Answer:
Yes, the limit does exist.
Explanation:
By definition, a limit in the form:

Exists if and only if:

We are given the limit:

So, in order to prove that this limit exists, we simply have to show that:

Let's do the left-hand side first. We can factor the function:

Simplify:

By direct substitution:

Now, we can evaluate the right-hand side. Again, factor:

Simplify:

And by direct substitution:

Since both the left- and right-hand limits equal 5/4, our original limit does indeed exist.