Bismarck Industries' current stock price stands at R$200.$ By the end of the year, it is projected that the stock price will either increase to R$260$ or decrease to R$160.$ The risk$-$free rate is given as $5\%.$

A call option on Bismarck Industries' stock, with a strike price of R$210,$ is set to expire in one year.

Your task is to compute the price of this call option. To do this, consider the given information, apply the appropriate options pricing model, and clearly detail your calculations for full credit. $(6)$

Hint: You may want to use a simple one$-$step binomial model to find the option price in this case, given the two possible stock prices at the end of the year.