Masses $m$ and 3$m$ are connected by a string, which is draped over a pulley, as shown in the diagram above. The masses are released from rest. Determine the magnitude of acceleration of mass $m .$
(A) $\frac{g}{4}$
(B) $\frac{g}{3}$
(C) $\frac{g}{2}$
(D) $g$
(E) 2$g$