2 a. A super-call makes a payoff at expiration of (St - K)2 if ST > K, and zero otherwise. Suppose that K = 95, that the stock price today is 100, and that the stock can increase each period by a factor of u= 1.1 or decline by a factor of d= .9. If the option has a life of two periods, and the risk-free rate is 5%, what is the value of the call? b. What is the value of the hedge ratio after one period if the stock price has increased to 110