7. A four month (120 day) call option on a certain stock has an exercise (strike) price of $62 and is currently selling for $10. If the corresponding put option for this same stock (with the same $62 strike price and four month expiration length) is selling for $15.40, what is the underlying stocks current market price? Use the put/call parity model to determine your answer. (Assume the current risk-free rate is 4%, and that the stock pays no dividends.)

PLEASE solve without the use of excel and show steps. The answer is $55.78 but I need to know how to solve it. Thanks.