36 Heart & Home Properties is developing a subdivision that includes 370 home lots. The 180 lots in the Canyon section are below a ridge and do not have views of the neighboring canyons and hills, the 190 lots in the Hilltop section offer unobstructed views The expected selling price for each Canyon lot is $48,000 and for each Hiltop lot is $90,000. The developer acquired the land for $2,500,000 and spent another $1,800,000 on street and utilities improvements Assign the joint land and improvement costs to the lots using the value basis of allocation and determine the average cost per lor. (Do not round your intermediate calculations.) 2 014259 Cost to Allocate Allocated Cost Quantity Average to floti Cost oor Market Value Percent of Market Value Numerator Denominator of Mid Value $17.760,000 $17,760.000 0 Canyon section Hiltopiction Total 0 0 Hint 15.200.000 $33.960.000 0 Derences