To solve this expression, we need to first convert all the mixed numbers to improper fractions.

0.875 = 875/1000 = 7/8

4 7/12 = (4*12 + 7) / 12 = 55/12

2 3/4 = (2*4 + 3) / 4 = 11/4

Now, we substitute these fractions back into the original expression:

7/8 * 22/7 - (55/12 - 11/4)

Next, we simplify each part of the expression:

7/8 * 22/7 = 77/56

55/12 - 11/4 = 55/12 - 33/12 = 22/12 = 11/6

Now, we substitute these simplified fractions back into the expression:

77/56 - 11/6

To subtract these fractions, we need to find a common denominator, which is 56 for 56 and 6:

(77/56) - (11/6) = (77/56)(6/6) - (11/6)(56/56)
= 462/336 - 616/336
= (462 - 616) / 336
= -154/336

Therefore, the final answer is -154/336 or -77/168 (simplified).