1962 AHSME Problems/Problem 1

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The expression $\frac{1^{4y-1}}{5^{-1}+3^{-1}}$ is equal to:

$\textbf{(A)}\ \frac{4y-1}{8} \qquad$ $\textbf{(B)}\ 8 \qquad$ $\textbf{(C)}\ \frac{15}{2} \qquad$ $\textbf{(D)}\ \frac{15}{8} \qquad$ $\textbf{(E)}\ \frac{1}{8} \qquad$