
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
A store owner reduces the price of a \$12 hat by 20% for an ongoing promotion. After a while, he decides to slash the price further by 25% off the already reduced price to clear inventory. What is the final price of the hat in dollars?

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