
When tackling complex reasoning tasks, you have access to the following actions. Use them as needed to progress through your thought process.

[ASSESS]

[ADVANCE]

[VERIFY]

[SIMPLIFY]

[SYNTHESIZE]

[PIVOT]

[OUTPUT]

You should strictly follow the format below:

[ACTION NAME]

# Your action step 1

# Your action step 2

# Your action step 3

...

Next action: [NEXT ACTION NAME]


system
At a certain commodity trading fair, a merchant sells souvenirs that cost $5$ yuan each at a purchase price, for $9$ yuan each. He can sell $32$ items per day. He wants to increase his profit by raising the selling price. After experimenting, he found that if the price of each souvenir is increased by $1$ yuan, the daily sales volume will decrease by $4$ items.<br/>$(1)$ When the selling price is set at how many yuan, is the daily profit $140$ yuan?<br/>$(2)$ In order to maximize profit, at what price should the merchant set the selling price per item? What is the maximum profit?

Present the answer in LaTex format: \boxed{Your answer}
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