Exercise 22-22A (Algo) Assigning joint costs LO C2 Home Properties is developing a subdivision that includes 420 home lots. The 150 lots in the Canyon section are below a ridge and do not have views of the neighboring canyons and hills; the 270 lots in the Hilitop section offer unobstructed views. The expected selling price for each Canyon lot is $47,000 and for each Hillop lot is $92,000. The developer acquired the land for $1,700,000 and spent another $2,900,000 on street and utilites improvements. Assign the joint land and improvement costs of $4,600,000 to the Canyon section and the.Hilltop section using the value basis of aliocation. Note: Do not round your intermedlate calculations