Castle Pty Ltd is a resident private company. The following information has beenextracted from its financial records for the tax year ended 30 June 2016.Net operating profit $800,000Distribution from an Australian Subsidiary Company 20% franked $100,000Distribution from a resident public company 60% franked $10,000Distribution from a resident private company 70% franked $7,000For the 2015/2016 tax year, it paid instalments of tax under the PAYG system asfollows:July 2015 $110,000October 2015 $120,000February 2016 $125,000April 2016 $130,000Total: $485,000Castle paid a fully franked distribution of $800,000 to its shareholders. As of 1st July2015, Castle had a franking surplus of $14,000 in its franking account.Compute the tax payable by Castle for the year ended 30 June 2016, and also preparethe companys franking account for this particular tax year.