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It would be somewhat easier. The B21FT uses the same style fuel injection as your B21F, but various components got placed in different areas. Nothing's going to be a real easy swap... but a turbo swap of some sort (B21FT, B23FT, B230FT) would probably be your best bet.
Another thing I'd worry about with the 16V motor is clearance. I believe that a 16V turbo is a tough to impossible fit in a 240, I don't know how much easier it would be to fit a non turbo 16V motor.
The distributor shouldn't be a big problem as you could just bang out the firewall if you were so inclined.
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alex
'89 765T, 173,0xx mi
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