5 people can be prized with 3 distinct prizes in 5^3 ways
In a race with 30 runners where 3 trophies will be given to the top 5 runners (the trophies are distinct: first place, second place, etc), how many ways can this be done?

1) 5^3 ways
2) 8^9 ways
3) 7^8 ways
4) 8^7 ways
5) 8^6 ways