On 16 May 2018, the closing price of Bidvest stock was R75.83. A put option with strike price R70.00 and maturity date 15 June 2018 costs R0.78. Assume a continuously compounded risk-free rate of 1.76 percent per annum and that there are 252 trading days in a year. Further, assume that the options are European and that the stock does not pay dividends. Suppose put-call parity holds, determine the price of the call option.