The problem asks to evaluate the expression:

$\left(\frac{8}{2}\right) + 2^3 - 5$

Let's solve this step-by-step.

Step 1: Simplify $\frac{8}{2}$

$\frac{8}{2} = 4$

Step 2: Simplify $2^3$

$2^3 = 2 \times 2 \times 2 = 8$

Step 3: Put everything together

$4 + 8 - 5$

Step 4: Perform the addition and subtraction

$4 + 8 = 12$ $12 - 5 = 7$

Thus, the value of the expression is $7$.

The correct answer is 7.

Would you like more details or have any questions?

Here are some related questions:

1. How would this expression change if it included multiplication?
2. What is the value of $2^4 - 6 + 1$?
3. How do you approach similar problems with exponents and fractions?
4. What happens if you switch the order of operations here?
5. How would the result change if you added parentheses around the last two terms?

Tip: Always remember to follow the order of operations: parentheses, exponents, multiplication/division (left to right), and then addition/subtraction (left to right).