An extract of the balance sheet of ABC Ltd at 1 July 2024 is shown below:

Shareholder’s Equity                                             $                    

Share Capital (5,000,000 ordinary shares)  10,000,000

General Reserves                                                  275,000

Retained Earnings                                              1,830,000

                                                                            12,105,000

 The following events occurred during the year ended 30 June 2025:

• ABC Ltd purchased a block of land in exchange for issuing 500,000 new ordinary shares for the total value of $2,000,000.
• ABC Ltd issued a further 500,000 ordinary shares for cash at an issue price of $3 each share.

 On 30 June 2025

• Tax expense was estimated at $370,000, payable in August. In addition, ABC Ltd reported a profit before tax of $1,340,000 (which is currently in the P&L Summary account).
• Directors of ABC Ltd transferred $300,000 to a general reserve.
• Directors of ABC Ltd declared a final dividend of $0.15 per share to be paid on 22 July 2025 (on ALL shares issued).

Required: Calculate the Tax Payable balance at 30 June 2025 after recording the transactions above.

Use only whole numbers. Do not include dollar signs or commas.