1999 AMC 8 Problem 22

In a far-off land three fish can be traded for two loaves of bread and a loaf of bread can be traded for four bags of rice. How many bags of rice is one fish worth?

\text{(A)}\ \frac{3}{8} \qquad \text{(B)}\ \frac{1}{2} \qquad \text{(C)}\ \frac{3}{4} \qquad \text{(D)}\ 2\frac{2}{3} \qquad \text{(E)}\ 3\frac{1}{3}

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