To solve the equation \( x^8 - 5 = -3 \), we can start by isolating \( x^8 \).
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Add 5 to both sides of the equation:
\[ x^8 - 5 + 5 = -3 + 5 \]
This simplifies to:
\[ x^8 = 2 \]
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Now we take the eighth root of both sides:
\[ x = \pm \sqrt[8]{2} \]
Since \( \sqrt[8]{2} \) is a positive value, the potential solutions are positive and negative eighth roots. However, none of the options given (-64, 1, -16, 16) are solutions to the equation \( x^8 = 2 \).
Therefore, the final answer is not among the choices provided.