Antipodes Pty Ltd earns Australian sourced non-dividend income of $300,000 and American sourced non-dividend income of AUD$400,000 for the current income year. During the current year, Antipodes has paid a PAYG income tax instalment of $40,000 relating to the previous year and PAYG income tax instalments of $115,000 in respect of the current year.

Required:

Calculate the total tax payable by Antipodes for the current year, and its franking account balance. Ignore any rebates or offsets other than those generated directly by the dividends. Assume a corporate tax rate of 30%.