A lumber mill paid $75,000 for logs that produced 195,200 board feet of lumber in 3 different grades and amounts as follows Market Price Structural No. 1 Common No. 2 Common 27,200 board feet 72,800 board feet 96,000 board feet $1,550/1,800 bd. ft. s 850/1,00e bd. ft $ 340/1,000 bd. ft. Compute the portion of the $75,000 joint cost to be allocated to No. 2 Common if the value basis is used Multiple Choice $25,000 $75000 Pre 8 of 30 Nxt> $25,000 $75,000 S0 $37.500 $18.000