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?$$ \frac{1}{4} \qquad \frac{1}{5} \qquad \frac{1}{6} \qquad \frac{1}{7} \qquad \frac{1}{8} $$
