An investor is considering using a binomial options pricing model (BOPM) to value a European call option on a stock. The stock is currently priced at $50, and in one year, it is expected to either increase to $60 or decrease to $40. The risk-free rate is 5%. The investor is unsure about how to calculate the option's price using the binomial model and asks for assistance.

Please calculate the value of the European call option.