SQL Developer

OS: Windows 7 64bit

I installed Sql Developer 64bit and placed it in C:\Program Files\sqldeveloper

Then I installed Java JDK and JRE for Windows 64bit in C:\Program Files\Java\jdk1.7.0_11 and C:\Program Files\Java\jre7 respectfully.

When I try to start SQL Developer it prompts me for full path to java.exe file.

I provide it with the path to C:\Program Files\Java\jdk1.7.0_11\bin\java.exe and it fails loading with the error message "The program can't start because MSVCR100.dll is missing from your computer. Try reinstalling the program and fix this problem."
Next it shows the error "Unable to launch the Java Virtual Machine located at path: C:\Program Files\Java\jdk1.7.0_11\jre\bin\server\jvm.dll"

I went to see if jvm.dll really exists and yes it does in the specified path: C:\Program Files\Java\jdk1.7.0_11\jre\bin\server
I went to check if the file msvcr100.dll exists and yes it does in C:\Program Files\Java\jdk1.7.0_11\jre\bin

Does someone know how this problem can be resolved?

Thank you!