
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
Given that the domain of the function $y=f(x)$ is $(0,+∞)$, and for a given positive number $K$, define $f_{K}(x)= \begin{cases} K,&f(x)\leqslant K \\ f(x),&f(x) > K \end{cases}$. When $f(x)= \dfrac {1}{x}$ and $K=1$, find the value of $\int _{ \frac {1}{4} }^{ 2 }f_{K}(x)dx=$ _____.

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