Describe step by step a Monte Carlo method which can be implemented on a computer in order to calculate approximately today's (i.e., time t = 0) arbitrage-free price of a European Asian call option (written on a non-dividend-paying stock) with fixed strike price K > 0 and payoff (222521 Sn K)+ at maturity T 1 year in the Black-Scholes-Merton model. Assume that the average 222521 Sn is computed with daily closing prices (and that the year has 252 trading days). Use M E N samples or simulations of the stock price. n=1 = n=1