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: At the 2007 Math Olympics, Team Canada won $17$ out of a possible $100$ medals. Which one of the following is closest to the fraction of medals that they won? $$
\frac{1}{4} \qquad \frac{1}{5} \qquad \frac{1}{6} \qquad \frac{1}{7} \qquad \frac{1}{8}
$$
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