3) (20 points) Two players compete in a first-price sealed bid auction. Each player's valuation is Vi = (1/3) + Oi, where 01 is known only to player i, but is drawn from a uniform distribution over [0,1]. Suppose Player 2 sets a bid at b2 = (1/3) + (1/2)02. Solve for Player I 's optimal bid that maximizes their expected payoff, as a function of 01. Show all work.