\( \text{If event M has a probability of } \frac{7}{12} \text{ and event N has a probability of } \frac{2}{12}, \text{ what is the probability of event M or event N, assuming they are mutually exclusive?} \)

Choose one option:

\( \frac{9}{12} \)
\( 1 \)
\( \frac{8}{12} \)