AHSME 1962 Problem 14

Let $s$ be the limiting sum of the geometric series $4- \frac83 + \frac{16}{9} - \dots$, as the number of terms increases without bound. Then $s$ equals: $\textbf{(A)}\ \text{a number between 0 and 1} \textbf{(B)}\ 2.4 \textbf{(C)}\ 2.5 \textbf{(D)}\ 3.6 \textbf{(E)}\ 12$