We look at the division of 554026 by 8 
We want to figure out the number of times 554026 can be divided by 8.

Advancing to step 1:
If we divide 5 by 8, we get 0 and a remainder of 5.
Record the quotient 0 as the next digit in the result. 
Result so far: 0.0
The remainder is 5 after subtracting 0 from 5.
Append the next digit (5) from the dividend to 5 and continue with: 55 / 8

Moving on to step 2:
The number 8 fits into 55 6 times, leaving a remainder of 7.
Write down 6 as next digit of the result. 
Result so far: 6.0
The remainder is 7 after subtracting 48 from 55.
Include the next digit (4) from the dividend after 7, then repeat: 74 / 8

On to step 3:
When dividing 74 by 8, we get 9 with a remainder of 2.
The number 9 becomes the next digit in our result. 
Result so far: 69.0
Deduct 72 from 74 and we're left with 2.
Include the next digit (0) from the dividend after 2, then repeat: 20 / 8

Step 4:
When dividing 20 by 8, we get 2 with a remainder of 4.
Record the quotient 2 as the next digit in the result. 
Result so far: 692.0
If we subtract 16 from 20, we get 4.
Fetch the next digit (2) from the dividend, attach it to 4 and continue: 42 / 8

Moving on to step 5:
The number 8 fits into 42 5 times, leaving a remainder of 2.
The number 5 becomes the next digit in our result. 
Result so far: 6925.0
If we take 40 away from 42, we end up with 2.
Grab the next digit (6) from the dividend, add it to 2, then carry on: 26 / 8

Advancing to step 6:
8 goes into 26 3 times with a remainder of 2.
Record the quotient 3 as the next digit in the result. 
Result so far: 69253.0
If we take 24 away from 26, we end up with 2.
Since there are no more digits in the dividend, we add a zero to the remainder making it 20, and continue the process.

Advancing to step 7:
The number 8 fits into 20 2 times, leaving a remainder of 4.
The next digit of our result is 2. 
Result so far: 69253.2
Subtract 16 from 20 to get 4.
Since there are no more digits in the dividend, we add a zero to the remainder making it 40, and continue the process.

Step 8:
8 goes into 40 5 times with a remainder of 0.
Use 5 as the next digit of our solution. 
Result so far: 69253.25
The remainder is 0 after subtracting 40 from 40.
Since there are no more digits in the dividend, we add a zero to the remainder making it 0, and continue the process.

Let's proceed to step 9:
The number 8 fits into 0 0 times, leaving a remainder of 0.
Put 0 as the next digit of the answer. 
Result so far: 69253.25
If we subtract 0 from 0, we get 0.
Since there are no more digits in the dividend, we add a zero to the remainder making it 0, and continue the process.

Going ahead to step 10:
When dividing 0 by 8, we get 0 with a remainder of 0.
Use 0 as the next digit of our solution. 
Result so far: 69253.25
If we take 0 away from 0, we end up with 0.
Since there are no more digits in the dividend, we add a zero to the remainder making it 0, and continue the process.

The final result is 69253.25 with a remainder of 0.0.