Home Properties is developing a subdivision that includes 350 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 110 lots in the Hilltop section offer unobstructed views. The expected selling price for each Canyon lot is $53,000 and for each Hilltop lot is $95,000. The developer acquired the land for $2,500,000 and spent another $1,000,000 on street and utilities improvements. Assign the joint land and improvement costs of $3,500,000 to the Canyon section and the Hilltop section using the value basis of allocation. (Do not round your intermediate calculations.)