Rover Co$.$ began operations two years ago $($Year $1)$ and recognized $$37,000$ in business income and $$1,000$ in taxable capital gains that year. Last year $($Year $2)$ the

company incurred a business loss of $$25,000,$ a taxable capital gain of $$2,000,$ and an allowable capital loss of $$5,000.$ During the current year $($Year $3)$ business income

was $$50,000,$ taxable capital gains were $$4,000,$ and the company received $$10,000$ in dividends from a taxable Canadian corporation. Rover Co$.$ utilizes any unused losses

in the earliest years possible.

Required:

What is the taxable income after all carry$-$over adjustments have been made?