A lumber mill paid $72,000 for logs that produced 199,200 board feet of lumber in 3 different grades and amounts as follows:

Grade	Production					Market Price
Structural	25,600		board feet		$	1,450/1,000		bd. ft.
No. 1 Common	73,600		board feet		$	800/1,000		bd. ft.
No. 2 Common	100,000		board feet		$	320/1,000		bd. ft.

Compute the portion of the $72,000 joint cost to be allocated to No. 2 Common if the value basis is used.