How much for a motor­cycle?

Two years ago, a man was offered a motorcycle for $1024, but he declined to buy it. A year later, he was offered the same motorcycle for $640, but again decided not to buy it. A little while after that, he was again offered the motorcycle, this time at $400. Again, he refused to buy it. Last week, he turned the motorcycle down even though the price had now fallen to $250. If the owner offers it for sale yet again, and he makes a consistent reduction, how much will it be for sale for the next time?

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Each price was 5/8 of the previous price. So the next price will be $156.25.

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