Heart & Home Properties is developing a subdivision that includes 600 home lots. The 450 lots in the Canyon section are below a ridge and do not have views of the neighboring canyons and hills; the 150 lots hilltop section offer unobstructed views. The expected selling proce for each Canyob lot $55,000 and for each hilltop is $110,000. The developer acquired the land for $4,000,000 and spent another $3,500,000 on the street and utilities improvements. Assign the joint land and improvement costs to the lots using the value basis of allocation and determine the average cost per lot.