Home Propertles Is developing a subdivision that Includes $350$ home lots. The $160$ lots In the Canyon section are below a ridge and do not have views of the nelghboring canyons and hills; the $190$ lots in the Hilltop section offer unobstructed views. The expected selling price for each Canyon lot is $$56,000$ and for each Hilltop lot is $$103,000.$ The developer acquired the land for $$2,400,000$ and spent another $$1,700,000$ on street and utilitles Improvements.

Assign the joint land and Improvement costs of $$4,100,000$ to the Canyon section and the Hilltop section using the value basis of allocation.

Note: Do not round your Intermedlate calculations.

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