AHSME 1996 Problem 22

Four distinct points, $A$, $B$, $C$, and $D$, are to be selected from $1996$ points evenly spaced around a circle. All quadruples are equally likely to be chosen. What is the probability that the chord $AB$ intersects the chord $CD$? $\text{(A)}\ \frac{1}{4} \text{(B)}\ \frac{1}{3} \text{(C)}\ \frac{1}{2} \text{(D)}\ \frac{2}{3} \text{(E)}\ \frac{3}{4}$