
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
In response to the national policy of expanding domestic demand, a manufacturer plans to hold a promotional event at the beginning of 2015. After investigation and estimation, the annual sales volume (i.e., the annual production volume $x$ in ten thousand units) and the annual promotional expenses $t$ (where $t > 0$) in ten thousand yuan satisfy $x=4- \frac {k}{t}$ (where $k$ is a constant). If the annual promotional expenses $t$ are 1 ten thousand yuan, the annual sales volume of the product is 1 ten thousand units. It is known that the fixed investment for the product in 2015 is 60 thousand yuan, and an additional investment of 120 thousand yuan is required to produce 1 ten thousand units of the product. The manufacturer sets the selling price of each unit to 1.5 times the average cost of the product (the product cost includes both fixed and additional investments).
- (Ⅰ) Express the profit $y$ (in ten thousand yuan) of the manufacturer for this product in 2015 as a function of the annual promotional expenses $t$ (in ten thousand yuan);
- (Ⅱ) How much should the manufacturer invest in annual promotional expenses in 2015 to maximize profit?

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