Y Co$.$ is a Canadian controlled private corporation with active business income of $$350,000$ in Year $1.$ The company engages in retail and wholesale activities. Capital gains recognized by the company in Year $1$ totaled $$84,000.$ Y Co$.$ will utilize a net capital loss carry$-$over of $$28,000$ on its Year $1$ tax return. What is Y Co$.\text{'}$s net income for tax purposes?

Multiple Choice

$$392,000$

$$434,000$

$$350,000$

$$364,000$