What is the meaning of (Say, "In the bounty of Allah and in His mercy - in that let them rejoice") and what is the difference between Allah's bounty and His mercy?

There is a difference of opinion regarding the interpretation of Allah's saying: (Say: "In the bounty of Allah and in His mercy—in that let them rejoice") [Quran 10:58]. It was said that "bounty" is Allah's favor upon His servants, and "mercy" is His mercy towards them. It was also said: Allah's bounty is the Quran, and His mercy is Islam. And it was said: Allah's bounty is faith, and His mercy is the Quran. The preferred view is to interpret them in a general sense, and the Quran is included therein as a primary inclusion.