Let's first distribute the terms on both sides of the equation:

24 - 12y + 15 = 22y^2 - 77 - 12y + 42

Next, let's combine like terms:

39 - 12y = 22y^2 - 89 - 12y

Now, let's move all the terms to one side of the equation to set it equal to zero:

0 = 22y^2 - 12y + 12y - 89 - 39

0 = 22y^2 - 128

Finally, let's simplify:

22y^2 - 128 = 0

This is the simplified form of the equation.