Question: NAME_1 has $\frac{5}{8}$ of a pound of chocolate. If he eats $\frac{1}{3}$ of the chocolate he has, how many pounds of chocolate does he eat?
A: \frac{5}{12}
B: \frac{5}{24}
C: \frac{3}{24}
D: \frac{3}{24}
Please eliminate two incorrect options first, then think it step by step and choose the most proper one option.