Give the Exact Value of the Expression $\cos \left( 2 \arcsin \frac { 1 } { 4 } \right)$

Give the exact value of the expression.
- $\cos \left( 2 \arcsin \frac { 1 } { 4 } \right)$

A) $\frac { 5 } { 8 }$
B) $\frac { 1 } { 8 }$
C) $\frac { 3 } { 8 }$
D) $\frac { 7 } { 8 }$