C

Fenway Athletic Club plans to offer its members preferred stock with a par value of $200 and an annual dividend rate of 7%. What price should these members be willing to pay for the returns they want? a. Theo wants a return of 8%. b. Jonathan wants a return of 13% c. Josh wants a return of 16%. d. Terry wants a return of 19%. a. If Theo wants a return of 8%, what price should he be willing to pay? $ (Round to the nearest cent.)