This set notation really seems the hard way to exclude a single value. Anyway...
The domain doesn't include where the denominator is zero, 4x + 7 = 0,
x = -7/4
The range doesn't include the asymptotic value, which is
y=2x/4x = 1/2
So we need domain x ≠ -7/4 and range y ≠ 1/2
Answer: First choice