(\frac{m^{4}}{2m^{4}})

$(\frac{m^{4}}{2m^{4}})$

When dividing terms with the same base, subtract exponents: $\frac{m^4}{m^4}=m^{4-4}=m^0=1$

$\frac{1}{2} \times 1 = \frac{1}{2}$

$\frac{1}{2}$