2. Consider a one-step binomial tree model for biotech company Illumina Inc. Let's suppose that the time per step is 3 months and the stock price can either go up to $401 or down to $328. A 3-month European call on Illumina with strike price $370 trades at $14, while a 3-month European put with strike $369 has a price of $20. Find the arbitrage-free price of an exotic option with payoff equal to the square root of stock price at T = 1/4. 2. Consider a one-step binomial tree model for biotech company Illumina Inc. Let's suppose that the time per step is 3 months and the stock price can either go up to $401 or down to $328. A 3-month European call on Illumina with strike price $370 trades at $14, while a 3-month European put with strike $369 has a price of $20. Find the arbitrage-free price of an exotic option with payoff equal to the square root of stock price at T = 1/4