First, calculate the ratio \( r \) of decrease in area of cross-section:
\[
r = \frac{A_0 - A_1}{A_0} = 1 - \left( \frac{d_1}{d_0} \right)^2 = 1 - \left( \frac{4}{5} \right)^2 = 1 - \frac{16}{25} = \frac{9}{25} = 0.36.
\]
Now, substitute into the formula for drawing stress:
\[
\sigma_d = 600 \ln \left( \frac{1}{1 - 0.36} \right) = 600 \ln \left( \frac{1}{0.64} \right) = 600 \ln(1.5625) \approx 600 \times 0.4463 = 267.8 \, \text{MPa}.
\]
The power required is given by:
\[
P = \sigma_d \times \text{cross-sectional area} \times \text{velocity}.
\]
The cross-sectional area is:
\[
A = \frac{\pi d_0^2}{4} = \frac{\pi (5 \, \text{mm})^2}{4} = 19.634 \, \text{mm}^2.
\]
Convert area to m²:
\[
A = 19.634 \times 10^{-6} \, \text{m}^2.
\]
Now, calculate the power required:
\[
P = 267.8 \times 19.634 \times 10^{-6} \times 5 = 16.8 \, \text{kW}.
\]
Thus, the power required is approximately \( 16.80 \, \text{kW} \).