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? Theo wants a return of 10%. Jonathan wants a return of 11%. Josh wants a return of 14%. Terry wants a return of 18%. If Theo wants a return of 10%, what price should he be willing to pay? $ (Round to the nearest cent.)