**Concept: The question tests on the fundamentals of Exponents.**

**Solution:**

Let the value be “x” times the value of 2^{(−17)}

Then 1/5(2^{-14 }+ 2^{-15} + 2^{-16} + 2^{-17}) = x*2^{-17 }

Thus, x = 1/5(2^{-14 }+ 2^{-15} + 2^{-16} + 2^{-17}) / 2^{-17 }

^{= }2^{ 17 * }1/5( 2^{-14 }+ 2^{-15} + 2^{-16} + 2^{-17}) [As 2^{-17 }is 1/2^{17 }]

= (2^{3}+2^{2}+2^{1}+2^{0})/5

=15/5 = 3 (**option C)**