Paul Ltd Owns 60% of John Ltd and Both Companies

Paul Ltd owns 60% of John Ltd and both companies have a financial year end of 30 April.On 30 April 20X0, John Ltd sold a non-current asset to Paul Ltd for $1 million profit.The remaining useful life at sale date was 10 years.Both entities assume the same total useful life, zero residual amount and use straight-line depreciation.Paul Ltd is currently preparing the financial statements for the year ended 30 April 20X2.Profit for that year (unadjusted for consolidation matters) is Paul $5 million, John $3 million.What is the NCI share of John Ltd's profit for the year?

A) $1 200 000
B) $400 000
C) $600 000
D) $1 000 000