The value of $8-3÷6\, of\, 2 + (4÷4\, of\, \frac{1}{4}) ÷ 8+ (4×8÷ \frac{1}{4}) × \frac{1}{8}$ is:

$\frac{7}{4}$ $-\frac{97}{4}$ $-\frac{7}{4}$ $\frac{97}{4}$

$\frac{97}{4}$