Here's a way that may be the easiest to understand, using the change-of-base formula in its simplest form:
$$
(\log_4 7)(\log_7 5) = \frac{\log_e 7}{\log_e 4} \cdot \frac{\log_e 5}{\log_e 7} = \frac{\log_e 5}{\log_e 4} = \log_4 5.
$$
Here's a way that uses a corollary of the change-of-base formula:
$$
\underbrace{(\log_4 7)(\log_7 5) = (\log_7 7)(\log_4 5)}_\text{a corollary of the change-of-base formula} = 1\cdot\log_4 5.
$$
Here's the corollary:
$$
(\log_A P)(\log_B Q)(\log_C R)(\log_D S)\cdots = (\log_D P)(\log_A Q)(\log_B R)(\log_C S)\cdots
$$
and generally you can permute the subscripts $A,B,C,D,\ldots$ in any way at all while leaving the arguments $P,Q,R,S,\ldots$ where they are, without changing the value of the product.
That follows from the change-of-base-formula, which is actually a special case of it.
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use $\log_a b=\dfrac{\log b}{\log a}$
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If in doubt convert to powers so that $$7=4^a; 5=7^b=(4^a)^b=4^{ab}$$ and then extract $ab$ from this equation.
Here's a way that may be the easiest to understand, using the change-of-base formula in its simplest form: $$ (\log_4 7)(\log_7 5) = \frac{\log_e 7}{\log_e 4} \cdot \frac{\log_e 5}{\log_e 7} = \frac{\log_e 5}{\log_e 4} = \log_4 5. $$
Here's a way that uses a corollary of the change-of-base formula: $$ \underbrace{(\log_4 7)(\log_7 5) = (\log_7 7)(\log_4 5)}_\text{a corollary of the change-of-base formula} = 1\cdot\log_4 5. $$
Here's the corollary: $$ (\log_A P)(\log_B Q)(\log_C R)(\log_D S)\cdots = (\log_D P)(\log_A Q)(\log_B R)(\log_C S)\cdots $$ and generally you can permute the subscripts $A,B,C,D,\ldots$ in any way at all while leaving the arguments $P,Q,R,S,\ldots$ where they are, without changing the value of the product.
That follows from the change-of-base-formula, which is actually a special case of it.