Step 1: Recall the relationship between degrees during polynomial division.
When dividing two polynomials, the degree of the quotient is given by:
\[ \text{Degree of Quotient} = \text{Degree of Dividend} - \text{Degree of Divisor}. \]
Step 2: Apply the formula.
The degree of the dividend is 7, and the degree of the divisor is 4. Thus:
\[ \text{Degree of Quotient} = 7 - 4 = 3. \]
Final Answer: The degree of the quotient is \( \mathbf{3} \), which corresponds to option \( \mathbf{(2)} \).