Boris Ltd Enters into a Joint Venture with Pete Ltd

Boris Ltd enters into a joint venture with Pete Ltd.The joint venture is unincorporated.Boris Ltd took out a $200 million loan to finance part of the $300 million cash it provided to the joint venture.Boris Ltd also provided licences with a carrying amount of $20 million and a fair value of $50 million.Pete Ltd will only provide equipment.If each party is to share equally the contributions and output, what was the fair value of the equipment provided by Pete Ltd?

A) $350 million
B) $320 million
C) $300 million
D) $200 million