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Compute amount of joint cost to be allocated to the street

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Question 1: Pleasant Hills Properties is developing a golf course subdivision that includes 250 home lots; 100 lots are golf course lots and will sell for $95,000 each; 150 are street frontage lots and will sell for $65,000. The developer acquired the land for $1,800,000 and spent another $1,400,000 on street and utilities improvement. Compute the amount of joint cost to be allocated to the street frontage lots using value basis. (Round your intermediate percentages to 2 decimal places.)

A. $1,920,000.
B. $720,000.
C. $1,620,800.
D. $1.579.200.
E. $1,080,000.

Reference no: EM132501151

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