Cancel the common factor (8 and 2)
Multiply.
Then, you can choose to reorder the polynomial like so, or leave it how it is above, because it won't simplify any more.
14x^3y - 6xy^2 + 8x^4y^5 --------- 2xy
14x^3y - 6xy^2 + 8x^4y^5 ----------------------------- 2xy