John Inc and Victor Inc for Its 70% Stake in Jinxtor

John Inc and Victor Inc for its 70% stake in Jinxtor. Jinxtor reported a net income of $3,000,000 for 2013. John's plant and equipment were estimated to provide an additional 5 years of utility to Jinxtor. Assume that the facts provided above with respect to the Jinxtor joint venture remain unchanged except that John receives $240,000 in return for investing its plant and equipment. What would be the impact of this transaction?

A) This would result in Jinxtor owing John $40,000.
B) This would result in a return of equity to John in the amount of $30,000.
C) This would result in a return of equity to John in the amount of $40,000.
D) This would result in a return of equity to John in the amount of $12,000.