"Lead Limited has declared a $0.50 per share dividend, payable in one month. At the same time the company has decided to capitalise reserves through a one-for-four bonus issue. The current share price at the close of business on the final cum-dividend date is $20. Calculate the theoretical price of the share after the bonus issue and the dividend payment have occurred."

$15.10/ share

$16.00/ share

$16.50/ share

$15.60/ share