well, first off let's check how much is 3 minus the 1 1/4, so the leftover we check how many 1/8 go into it.
[tex]\bf 1\frac{1}{4}\implies \cfrac{1\cdot 4+1}{4}\implies \cfrac{5}{4}\\\\
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3-1\frac{1}{4}\implies 3-\cfrac{5}{4}\impliedby \textit{LCD of 4}\implies \cfrac{(4\cdot 3)-5}{4}\implies \cfrac{7}{4}
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\textit{now, how many times does }\frac{1}{8}\textit{ go into }\frac{7}{4}?\implies \cfrac{\quad \frac{7}{4}\quad }{\frac{1}{8}}\implies \cfrac{7}{4}\cdot \cfrac{8}{1}
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\cfrac{56}{4}\implies 14[/tex]