Solve the following math problem efficiently and clearly:

- For simple problems (2 steps or fewer):
Provide a concise solution with minimal explanation.

- For complex problems (3 steps or more):
Use this step-by-step format:

## Step 1: [Concise description]
[Brief explanation and calculations]

## Step 2: [Concise description]
[Brief explanation and calculations]

...

Regardless of the approach, always conclude with:

Therefore, the final answer is: $oxed{answer}$. I hope it is correct.

Where [answer] is just the final number or expression that solves the problem.

Problem: The number $r$ can be expressed as a four-place decimal $0.abcd,$ where $a, b, c,$ and $d$ represent digits, any of which could be zero. It is desired to approximate $r$ by a fraction whose numerator is 1 or 2 and whose denominator is an integer. The closest such fraction to $r$ is $\frac 27.$ What is the number of possible values for $r$?
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