Covalent bonds are typically formed between nonmetal elements, which usually have similar electronegativities.
In the given options:
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Nitrogen (N) and Oxygen (O) are both nonmetals located in the same region of the periodic table, making them likely to form covalent bonds.
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Magnesium (Mg) is a metal and Sulfur (S) is a nonmetal, which would typically favor ionic bonding rather than covalent bonding.
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Potassium (K) is a metal and Iodine (I) is a nonmetal, which also suggests that they would likely form ionic bonds instead of covalent bonds.
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Sodium (Na) is a metal and Bromine (Br) is a nonmetal, indicating a preference for ionic bonding as well.
Thus, the most likely pair to form covalent bonds is nitrogen (N) and oxygen (O).