Can I lose about 80 lbs. or more in about 3 1/2 months?

I am a 14 year old boy and weigh almost 240 pounds. I am about 5'10", and I really want to lose about 80 pounds so some people at school will stop making jokes about my weight. Is it really possible to lose that much in 3 1/2 months, and gain some muscle with it?
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