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Home Properties is developing a subdivision that includes 360 home lots. The 150 lots in the Canyon section are below a ridge and do not have views of the neighboring canyons and hills; the 210 lots in the Hilltop section offer unobstructed views. The expected selling price for each Canyon lot is $41,000 and for each Hilltop lot is $101,000. The developer acquired the land for $1,800,000 and spent another $2,000,000 on street and utilities improvements. Assign the joint land and improvement costs of $3,800,000 to the Canyon section and the Hilltop section using the value basis of allocation. Note: Do not round your intermediate calculations. Canyon section Hilltop section Totals Sales Value Numerator Percent of Sales Value Denominator % of Sales Value Cost to Allocate Allocated Cost

Home Properties is developing a subdivision that includes 360 home lots. The 150 lots in the Canyon section are below a ridge and do not have views of the neighboring canyons and hills; the 210 lots in the Hiltop section offer unobstructed views. The expected selling price for each Canyon lot is $41,000 and for each Hilltop lot is $101,000. The developer acquired the land for $1,800,000 and spent another $2,000,000 on street and utlities improvements. Assign the joint land and improvement costs of $3,800,000 to the Canyon section and the Hilltop section using the value basis of allocation. Note: Do not round your intermediate calculations

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