Probably not a 427, the model is a Park Lane ( crest on fender behind the wheel well) the emblem and flag on the front fender means “Marauder” which is the sloped roof line, more commonly seen on 2 dr hardtops, but available on a four door hardtop as seen here. ‘64 Mercury’s offered quite a few body style/interior/ drivetrain combinations. I have seen some strange combinations.