The chances of three independent events X, Y, Z occurring are \(\frac{1}{2}\), \(\frac{2}{3}\), \(\frac{1}{4}\) respectively. What are the chances of Y and Z only occurring?
A. \(\frac{1}{8}\) B. \(\frac{1}{24}\) C. \(\frac{1}{12}\) D. \(\frac{1}{4}\)