Step 1: Isothermal Expansion.
For isothermal expansion, the pressure and volume follow Boyle's Law, where \( P_1 V_1 = P_2 V_2 \). So after the isothermal expansion, the pressure is reduced to \( \frac{P}{2} \).
Step 2: Adiabatic Expansion.
For adiabatic expansion, the pressure and volume follow the equation \( P V^{\gamma} = \text{constant} \), where \( \gamma = \frac{5}{3} \). Using this relation, we can find the final pressure:
\[
P_2 V_2^{\gamma} = P_3 V_3^{\gamma}
\]
Substituting the values and solving gives:
\[
P_3 = \frac{P}{64}
\]
Step 3: Conclusion.
Thus, the correct answer is (D) \( \frac{P}{64} \).