Question 4 (10 marks) Jam Co Ltd derives income for the current income year (all from Australian sources) comprising net income from trading of $60,000, franked distribution from public companies amounting to $21,000, (carrying an imputation credit of $9,000), unfranked distributions from resident private companies amounting to $16,000 and rental income of $4,000. Required: (a) Calculate the net tax payable by Jam Co Ltd for the year ended 30 June. (b) What will be the effect, if any, on the company's franking accounts as a result of receiving the dividends