Pleasant Hills Properties is developing a golf course subdivision that includes 225 home lots; 100 lots are golf course lots and will sell for $97,000 each; 125 are street frontage lots and will sell for $67,000. The developer acquired the land for $1,820,000 and spent another $1,420,000 on street and utilities improvement. Compute the amount of joint cost to be allocated to the golf course lots using value basis.
