The table shows the income tax rates for the 2019 – 2020 financial year.

\begin{array} {|l|l|}
\hline
\rule{0pt}{2.5ex}\textit{    Taxable income}\rule[-1ex]{0pt}{0pt} & \textit{    Tax payable}\\
\hline
\rule{0pt}{2.5ex}\text{\$0 – \$18 200}\rule[-1ex]{0pt}{0pt} & \text{Nil}\\
\hline
\rule{0pt}{2.5ex}\text{\$18 201 – \$37 000}\rule[-1ex]{0pt}{0pt} & \text{19 cents for each \$1 over \$18 200}\\
\hline
\rule{0pt}{2.5ex}\text{\$37 001 – \$90 000}\rule[-1ex]{0pt}{0pt} & \text{\$3572 plus 32.5 cents for each \$1 over \$37 000}\\
\hline
\rule{0pt}{2.5ex}\text{\$90 001 – \$180 000}\rule[-1ex]{0pt}{0pt} & \text{\$20 797 plus 37 cents for each \$1 over \$90 000}\\
\hline
\rule{0pt}{2.5ex}\text{\$180 001 and over}\rule[-1ex]{0pt}{0pt} & \text{\$54 097 plus 45 cents for each \$1 over \$180 000}\\
\hline
\end{array}

For the 2019 – 2020 financial year, Wally had a taxable income of $122 680. During the year, he paid $3000 per month in Pay As You Go (PAYG) tax.

Calculate Wally's tax refund, ignoring the Medicare levy.   (3 marks)