When a missile is fired from a ship, the probability that it is intercepted is $\frac { 1 } { 3 }$ and the probability that the missile hits the target, given that it is not intercepted, is $\frac { 3 } { 4 }$. If three missiles are fired independently from the ship, then the probability that all three hit the target, is:\\
(1) $\frac { 3 } { 8 }$\\
(2) $\frac { 1 } { 27 }$\\
(3) $\frac { 1 } { 8 }$\\
(4) $\frac { 3 } { 4 }$