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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.)
Efficient Markets Hypothesis
A theory suggesting that all known information is already reflected in stock prices, meaning that stocks always trade at their fair value.
Stock Price
The current price at which a share of a company is bought or sold in the market.
Financial Disclosures
Information provided by a company to its stakeholders about its financial health, performance, and risks, typically found in annual reports and financial statements.
Economic Incentive
A financial or non-financial reward offered to encourage or discourage specific behaviors or actions by individuals or companies.
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