The capital return rate is the relative time change rate of value. Correspondingly, the current value can be produced in terms of value change rate divided by capital return rate. There is a variety of ways to approximate the expected capital return rate. These are briefly discussed. The approximation of the value change rate is still more variant, depending on the type of businesses discussed. A variety of businesses may appear within a firm, in which case the value change rates must be

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... ted. An example is provided of a real estate firm benefiting from the growth of multiannual plants of varying age. It is found that the application of a duration-dependent reference capital return rate increases the value increment rate of juvenile stands and decreases that of mature stands, however increasing the valuation result of both.