1989 AJHSME Problem 24

Suppose a square piece of paper is folded in half vertically. The folded paper is then cut in half along the dashed line. Three 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?

\text{(A)}\ \frac{1}{2} \qquad \text{(B)}\ \frac{2}{3} \qquad \text{(C)}\ \frac{3}{4} \qquad \text{(D)}\ \frac{4}{5} \qquad \text{(E)}\ \frac{5}{6}

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