Suppose the price of a stock today is 100. The strike prices of call and put options trading on the stock are also 100. These options mature in 2 years. Both European and American options are traded. The annual volatility of the rate of return on the stock is 30%. The discount risk-free rate is 2% per quarter. Use the binomial options pricing approach with a time step of 12 months to price European call and put options on the stock.