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4\times \frac{1}{8}-1^{1}\times \frac{1}{4}
Calculate 4 to the power of 1 and get 4.
\frac{4}{8}-1^{1}\times \frac{1}{4}
Multiply 4 and \frac{1}{8} to get \frac{4}{8}.
\frac{1}{2}-1^{1}\times \frac{1}{4}
Reduce the fraction \frac{4}{8} to lowest terms by extracting and canceling out 4.
\frac{1}{2}-1\times \frac{1}{4}
Calculate 1 to the power of 1 and get 1.
\frac{1}{2}-\frac{1}{4}
Multiply 1 and \frac{1}{4} to get \frac{1}{4}.
\frac{2}{4}-\frac{1}{4}
Least common multiple of 2 and 4 is 4. Convert \frac{1}{2} and \frac{1}{4} to fractions with denominator 4.
\frac{2-1}{4}
Since \frac{2}{4} and \frac{1}{4} have the same denominator, subtract them by subtracting their numerators.
\frac{1}{4}
Subtract 1 from 2 to get 1.