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\frac{1}{4}\times \frac{1}{3}
Reduce the fraction \frac{4}{12} to lowest terms by extracting and canceling out 4.
\frac{1\times 1}{4\times 3}
Multiply \frac{1}{4} times \frac{1}{3} by multiplying numerator times numerator and denominator times denominator.
\frac{1}{12}
Do the multiplications in the fraction \frac{1\times 1}{4\times 3}.