A square piece of paper, 4 inches on a side, is folded in half vertically. Both layers are then cut in half parallel to the fold. Three new rectangles are formed, a large one and two small ones. What is the ratio of the perimeter of one of the small rectangles to the perimeter of the large rectangle?
- A: \frac {1}{3}
- B: \frac{1}{2}
- C: \frac{3}{4}
- D: \frac{4}{5}
- E: \frac{5}{6}
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