Cannot inline bytecode built with JVM target 1.8 into bytecode that is being built with JVM target 1.6

When trying to run the Example CorDapp (GitHub CorDapp) via IntelliJ, I receive the following error:

Cannot inline bytecode built with JVM target 1.8 into bytecode that is being built with JVM target 1.6

How can I modify the IntelliJ settings so that all the bytecode is built with the same JVM target?

You can fix this issue as follows:

• Open the IntelliJ preferences
• Go to Build, Execution, Deployment > Compiler > Kotlin Compiler BUT Other Settings > Kotlin compiler if Android Studio > 3.4
• Change the Target JVM version to 1.8
• Click Apply