Home Properties is developing a subdivision that includes 380 home lots. The 180 lots in the Canyon section are below a ridge and do not have views of the neighboring canyons and hills; the 200 lots in the Hilltop section offer unobstructed views. The expected selling price for each Canyon lot is $42,000 and for each Hilltop lot is $96,000. The developer acquired the land for $2,400,000 and spent another $1,600,000 on street and utilities improvements. Assign the joint land and improvement costs of $4,000,000 to the Canyon section and the Hilltop section using the value basis of allocation. Note: Do not round your intermediate calculations