This is for a third-year university accounting case.

"On January 1, the company issued $1.5 million of five-year, 6% convertible bonds at par value. Each $1,000 bond is convertible into 100 common shares. A similar bond (without conversion feature) would have been issued at a market yield of 9%. On December 31, $200,000 worth of bonds were converted to common shares."

I need to know the recognition, measurement, and presentation of this instrument. Also need to consider whether or not to use ASPE or IFRS.