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Chapter 9 question 13I'm confused by this not sure why myAnswers are wrong unchuri=https%2534%252F%252Flearn.liberty.edu%252Fwebapps%252Fportal6252. Apps M Gmail YouTube Maps Citation Machine:. Reading Chapter 9 Homework

Chapter 9 question 13I'm confused by this not sure why myAnswers are wrong

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unchuri=https%2534%252F%252Flearn.liberty.edu%252Fwebapps%252Fportal6252. Apps M Gmail YouTube Maps Citation Machine:. Reading Chapter 9 Homework i Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 13 Heart & Home Properties is developing a subdivision that Includes 440 home lots. The 200 lots In the Canyon section are below a ridge and do not have views of the neighboring canyons and hills; the 240 lots in the Hilltop section offer unobstructed views. The expected selling price for each Canyon lot is $45,000 and for each Hilltop lot is $92,000. The developer acquired the land for $1,900,000 and spent another $2,800,000 on street and utilities improvements. 2 points Assign the joint land and Improvement costs to the lots using the value basis of allocation and determine the average cost per lot. (Do not round your intermediate calculations.) x Answer is complete but not entirely correct. Market Value Percent of Market Value Cost to Allocated Quantity Average Allocate Cost of Lots Lot Cost Numerator Denominator % of Mkt Value Canyon section $ 9,000,000 $ 9,000,000 $ 31,080,000 28.96% $ 4,500,000,000 X $ 1,900,000 X 200 $ 9,500 Hilltop section 2,208,000,000 x 2,208,000,000 X 31,080,000 71.04% 4,500,000,000 4,498,100,000 240 18,742,083 Totals 7,133.00% $ 2.217.000.000 4.500.000.000 Mc Graw

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