
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 the function $f(x)= \frac {x-1}{x}-\ln x$.
(1) Find the equation of the tangent line to the curve $y=f(x)$ at the point $\left( \frac {1}{2}, f\left( \frac {1}{2} \right)\right)$.
(2) Find the maximum and minimum values of $f(x)$ on the interval $\left[ \frac {1}{4}, e \right]$.

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