To find the equation of this line, we must first find the slope of the line. Since the line is parallel to y = 1/4x - 2, the slope of our line is also 1/4.
So far, we only know the slope, so the equation is y = 1/4x + b. But, we know that this line goes through the point (4, -2), so we can substiute the x and y values and solve.
-2 = 4 (1/4) + b
-2 = 1 + b
b = -3
That means that the equation of this line is y = 1/4x - 3