Brevall Industries makes corn oil and corn meal from harvested corn in a joint process. The corn oil can be further processed into margarine, and the corn meal can be further processed into corn muffin mix. The joint cost incurred to process the corn to the split-off point is $140,000. Information on the quantities, value, and further processing costs for the joint products appear below:

	Quantity	Sales Value At Split Off	Estimated Further Processing Cost	Sales Value After Processing
Corn Oil	800,000 lbs	$0.30/lb.	$0.15/lb	$0.60/ib
Corn Meal	1,600,000 lbs	$0.10/lb	$0.46/lb	0.55/lb

Brevall allocates the joint cost to the products based on the relative sales value at split-off point. How much joint cost should be assigned to the corn oil?