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To use the Quotient Rule of Exponents, you subtract the exponent in the denominator from the exponent in the numerator.
In this case, we have 2^8 ÷ 2^4.
Using the Quotient Rule of Exponents, we subtract the exponents and keep the base:
2^8 ÷ 2^4 = 2^(8-4) = 2^4
Therefore, the equivalent form of 2^8 ÷ 2^4 is 2^4.
So, the correct answer is 3. 2^4.