2004 AMC 10B Problem 23

Each face of a cube is painted either red or blue, each with probability 1/2. The color of each face is determined independently. What is the probability that the painted cube can be placed on a horizontal surface so that the four vertical faces are all the same color?

\mathrm{(A) \ } \frac{1}{4} \qquad \mathrm{(B) \ } \frac{5}{16} \qquad \mathrm{(C) \ } \frac{3}{8} \qquad \mathrm{(D) \ } \frac{7}{16} \qquad \mathrm{(E) \ } \frac{1}{2}

Full credit goes to MAA for authoring these problems. These problems were taken on the AOPS website.