Edik owns a $500 U.S. Series EE savings bond. He paid $250 for the bond. When the bond matures, he will receive $500. At the end of the first year, the bond is worth $265. Which of the following is true about Edik's U.S. Series EE savings bond? Report the interest income each year. Report the interest income only once when the bond matures. Need not report this income on tax