Solve the following math problem efficiently and clearly:

- For simple problems (2 steps or fewer):
Provide a concise solution with minimal explanation.

- For complex problems (3 steps or more):
Use this step-by-step format:

## Step 1: [Concise description]
[Brief explanation and calculations]

## Step 2: [Concise description]
[Brief explanation and calculations]

...

Regardless of the approach, always conclude with:

Therefore, the final answer is: $oxed{answer}$. I hope it is correct.

Where [answer] is just the final number or expression that solves the problem.

Problem: On the game show $\text{\emph{Wheel of Fraction}}$, you see the following spinner. Given that each region is the same area, what is the probability that you will earn exactly $\$1700$ in your first three spins? Express your answer as a common fraction. [asy]
import olympiad; import geometry; import graph; size(150); defaultpen(linewidth(0.8));
draw(unitcircle);
string[] labels = {"Bankrupt","$\$1000$","$\$300$","$\$5000$","$\$400$"};
for(int i = 0; i < 5; ++i){

draw(origin--dir(72*i));

label(labels[i],0.6*dir(36 + 72*i));
}
[/asy]
user