Stephanie M. answered 05/16/15
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The degree of a one-variable polynomial is equal to the highest exponent attached to that variable. For you, the highest exponent is 4 (in the term -7x4), so the degree is 4.
In a more complicated case with multiple variables, like x9y4 + 3x12 + 14x2y3 - 10, the degree is the highest combined degree of any term. The first term has a degree of 9+4 = 13, the next term has a degree of 12, the next term has a degree of 2+3 = 5, and the last term has a degree of 0. So, this polynomial has a degree of 13.