Problem with nested IF formula

Hey all!

I was pretty sure I had this formula set up correctly, but keep getting an error and can't get it to return a value. Not sure where the syntax is wrong, but would be awesome if I could be pointed in the right direction!

I am trying to take the value in I3 and recalculate a different value to display in J3, and I need it to function like this:

If the value is less than 4, return 0
If the value is between 4-4.99, reduce the value by 50%
If the value is between 5-7, return the original value
If the value is between 7-7.99, reduce the value by 50%
If the value is more than 8, return 0

Screenshot 2021-10-19 165018.jpg

Sounds simple, but something's not clicking! Appreciate the help!

Worked perfectly, thank you!