I started a project of putting in a hexagonal window. However, when we cut the hole in the sheet rock for the window, a nice discovery was made. Whoever originally wired/rewired the house, bored a hole through one of the studs and ran a wire through the middle of it. And it's right in the way of the window

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Anywho, I'm not sure where to proceed. I could just patch up the hole and forget about it, but that's not really my way. What is the best way to go about this without electrocuting myself? I have attached a picture of the offending wire.