Yes, you can use the cash method for your new Series I bonds purchased. The new purchase of Series I bonds are not connected to the old Series EE bonds. A Form 3115 is not required for these bonds (Series I).
The original Series EE bonds have been cashed and all interest required to be reported on the Series EE bonds should now be completed since they were cashed. If you had wanted to change methods on these bonds before they were cashed, then you would have needed Form 3115 to do that.
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