Simplify the Complex Number and Write It in Standard Form $\frac { 1 } { ( 2 i ) ^ { 3 } }$

Multiple Choice

Simplify the complex number and write it in standard form.
$\frac { 1 } { ( 2 i ) ^ { 3 } }$

A) $\frac { 1 } { 2 } i$
B) $- \frac { 1 } { 8 } i$
C) $\frac { 1 } { 8 } i$
D) $- \frac { 1 } { 2 } i$
E) 8i