To find the new coordinates of point Y after the described translation, we start with the original coordinates of point Y, which are \((-4, 1)\).
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Translate down 3 units: This means we subtract 3 from the y-coordinate. \[ 1 - 3 = -2 \]
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Translate to the right 8 units: This means we add 8 to the x-coordinate. \[ -4 + 8 = 4 \]
After performing these translations, the new coordinates of point Y are \((4, -2)\).
Thus, the coordinates of the translated point Y are \(\boxed{(4, -2)}\).