The stock of NovelCo is currently trading at $50. The risk-free rate is zero; the volatility of NovelCos stock return is 20% per annum. A bank creates a two-month option Binary on NovelCos stock. If the stock price on the maturity date is above or equal to the strike price, the option holder receives $10; otherwise the option holder receives nothing. What is the value of this Binary option if the strike price is $53?