The value of $$3\frac{1}{5} \div 4\frac{1}{2}{\text{ of }}5\frac{1}{3} + \frac{1}{8} \div \frac{1}{2}{\text{ of }}\frac{1}{4} - \frac{1}{4}\left( {\frac{1}{2} \div \frac{1}{8} \times \frac{1}{4}} \right){\text{is:}}$$

$$\eqalign{ & 3\frac{1}{5} \div 4\frac{1}{2}{\text{ of }}5\frac{1}{3} + \frac{1}{8} \div \frac{1}{2}{\text{ of }}\frac{1}{4} - \frac{1}{4}\left( {\frac{1}{2} \div \frac{1}{8} \times \frac{1}{4}} \right) \cr & = 3\frac{1}{5} \div \left( {\frac{9}{2} \times \frac{{16}}{3}} \right) + \frac{1}{8} \div \frac{1}{8} - \frac{1}{4} \cr & = \frac{{16}}{5} \times \frac{1}{{24}} + 1 - \frac{1}{4} \cr & = \frac{2}{{15}} + \frac{3}{4} \cr & = \frac{{8 + 45}}{{60}} \cr & = \frac{{53}}{{60}} \cr} $$