2009 AMC 12A Problem 3

What number is one third of the way from \frac14 to \frac34?

\textbf{(A)}\ \frac {1}{3} \qquad \textbf{(B)}\ \frac {5}{12} \qquad \textbf{(C)}\ \frac {1}{2} \qquad \textbf{(D)}\ \frac {7}{12} \qquad \textbf{(E)}\ \frac {2}{3}

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