A lumber mill paid $87,000 for logs that produced 203.200 board feet of lumber in 3 different grades and amounts as follows Production 33,600 board feet 73,680 board feet 96,860 board feet Market Price $1,500/1,000 bd. ft. $1,e5e/1,eee bd. ft. 420/1,000 bd. ft. Grade Structural No. 1 Common No. 2 Common Compute the portion of the $87,000 joint cost to be allocated to No. 2 Common if the value basis is used