If you are just supposed to simplify it:
We know that: log22 =1 , so log24 = log222 = 2·log22 = 2·1 = 2
Therefore: 2·log47 = 2·(log27 / log24) = 2·(log27 / 2) = log27
Also: log298 = log2(72·2) = log272 + log22 = 2·log27 + 1
Putting these together: (log298) - (2·log47) - 2 = (2·log27 + 1) - (log27) - (2)
= log27 - 1
or = log27 - log22 = log2(3.5)
or: = log449 - 1 = log4(12.25)