A construction firm is debating placing a bid on a construction project for a new city library. However, the two partners of the firm have conflicting views on the level of confidence they should have before placing a bid. The first partner likes to be safe and take a low level of risk in order to avoid losing money on the final project; the other partner prefers to take greater risks so that the firm has a better chance of being awarded the contract. The estimated cost of bidding on the project, regardless of risk, is $$9,000.$ If the risk$-$averse partner has his way, the firm has a $20\%$ chance of winning the contract and an $80\%$ chance of losing it; if the risk$-$tolerant partner has his way, the firm has a $65\%$ chance of winning the contract and a $35\%$ chance of losing it$.$ If the contract is awarded under low$-$risk conditions, the firm will have an $80\%$ probability of earning a $$150,000$ profit, a $10\%$ probability of breaking even at $$0,$ and a $10\%$ probability of losing $$50,000$; under high$-$risk conditions, the firm faces a $50\%$ probability of earning a $$150,000$ profit, a $25\%$ probability of breaking even at $$0,$ and a $25\%$ probability of losing $$50,000.$ Is it financially smarter for this construction company to bid on the contract under low$-$risk or high$-$risk conditions?

To receive points, please provide all calculations, explanations, tables and graphs required to support your answers.