The following information is provided by Exemplar Pty Ltd (tax rate 30%).

Date	Transaction	Amount ($)
07.07.19	Franking deficit tax relating to 2018/19	7,000
28.07.19	PAYG instalment paid for June quarter 2018/19	13,000
30.09.19	Paid final dividend from 2018/19 80% franked	14,000
25.10.19	PAYG instalment paid for Sep quarter 2019/20	3,500
28.10.19	Refund of net tax from 2018/19 income tax return	12,500
15.12.19	Received fully franked dividend	7,000
28.02.20	PAYG instalment paid for Dec quarter 2019/20	3,500
15.03.20	Paid interim dividend fully franked	14,000
28.04.20	PAYG instalment paid for March quarter 2019/20	3,500
30.05.20	Paid 2019/20 Fringe benefit tax	4,600
30.06.20	Final dividend declared for 2019/20	9,000
30.06.20	PAYG instalment payable for June quarter 2019/20	3,500

The company bench mark percentage is 80%

Taxable income of the company for the 2019/20 tax year was $90,000

The franking deficit tax paid on 7 July was applied against the 2018/19 tax liability (FDT).

Required

Prepare the franking account of Exemplar Pty Ltd for the 2019/20 franking year.

Calculate the company net tax payable/refundable for 2019/20