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By default, stereo outputs using UHJ, which renders to a B-Format buffer that gets run through a UHJ encoder for output. It may also output using pair-wise panning, which pans between -30 and +30 degrees with the speakers at the two ends. In both cases, the stereo coefficients are ignored. Mono, having only one output channel, can realistically only attenuate its channel. Turning the volume up and down accomplishes the same result.