5. On January 1, 2016, Bell Co. issued $10 million of 10-year convertible bonds at 105. On January 1, 2021, the bonds were converted into common stock with a market value of $11 million. Upon conversion, Bell would recognize:

Book value method. Market value method.

1. no gain or loss no gain or loss

2. no gain or loss loss

3. no gain or loss gain

4. loss loss

5. gain gain

I upload it again... plz show me the full calculation.... no hand writing plz and no just some sentence..plz!!

tks