Fenway Athletic Club plans to offer its members preferred stock with a par value of $$200$ and an annual dividend rate of $6\%.$ 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 $12\%.$

c$.$ Josh wants a return of $15\%.$

d$.$ Terry wants a return of $18\%.$

a$.$ If Theo wants a return of $8\%,$ what price should he be willing to pay?

$ $($Round to the nearest cent.$)$