Home Properties is developing a subdivision that includes 310 home lots. The 240 lots in the Canyon section are below a ridge and do not have views of the neighboring canyons and hills; the 70 lots in the Hillop section offer unobstructed views. The expected selling price for each Canyon lot is $53,000 and for each Hilltop lot is $102,000. The developer acquired the land for $1,700,000 and spent another $3,700,000 on street and utilities improvements. Assign the joint land and improvement costs of $5,400,000 to the Canyon section and the Hilltop section using the value basis of allocation. Note: Do not round your intermediate calculations