1. The problem is to simplify the fraction $\frac{5}{4}$. 2. Simplifying a fraction means reducing it to its simplest form where the numerator and denominator have no common factors other than 1. 3. The fraction $\frac{5}{4}$ has numerator 5 and denominator 4. 4. The factors of 5 are 1 and 5. 5. The factors of 4 are 1, 2, and 4. 6. Since 5 and 4 have no common factors other than 1, the fraction is already in simplest form. 7. Therefore, the simplified form of $\frac{5}{4}$ is $\frac{5}{4}$.