Architecture - calculating miss penalty

Question

I know that AVG Memory Access Time = Hit time + Miss Rate * Miss Penalty

If I am given the AMAT and miss rate, aswell as the latency to access memory(call this x) how do I calculate the miss penalty & / or Hit Time?

For example:

AMAT = 80 (cycles)
Miss Rate = 0.4
Memory access latency = 60 (cycles)

How do I get miss penalty from this so that I can solve for hit time?

Thanks