1. **State the problem:** Calculate $8$ squared divided by $4$ times $2$ to the third power. 2. **Write the expression:** $$\frac{8^2}{4} \times 2^3$$ 3. **Calculate powers:** - $8^2 = 64$ - $2^3 = 8$ 4. **Substitute values:** $$\frac{64}{4} \times 8$$ 5. **Divide:** $$\frac{\cancel{64}}{\cancel{4}} \times 8 = 16 \times 8$$ 6. **Multiply:** $$16 \times 8 = 128$$ **Final answer:** $128$