With a recent outbreak of cholera, your firm has been granted an opportunity by the CDC to develop a low-cost immunity booster that would allow people who are forced to drink contaminated water to avoid the disease. The CDC will award your firm $600,000 for the successful development of the booster. Given the existing research on cholera, the probability of developing the product is relatively high: 80% if your chief researcher gives high effort and 60% if given low effort. However, your researcher has many alternative opportunities, and thus demands an expected compensation of $180,000. Your firm could hire another researcher at a rate of $120,000, but the success rate is 60%, equivalent to a better researcher giving low effort.

What is the bonus that would induce high effort by the researcher?

Given this bonus, what is the base pay?