9. Consider the following simple principal/agent problem. A firm hires an employee to perform a sales function. Let e denote employee's effort level. Suppose e is not observable by the prin- cipal. Assume that every additional unit of effort increases sales by $200, and the employee's marginal cost of effort satisfies the following equation: 0 if e 10 The employee's salary is determined as: $600 base salary plus 20 percent commission on sales. Under this salary scheme, the employee will choose the effort level e at , and the firm's profit would be $