A construction company can spend $X on an equipment. The gross income by the end of the first year is estimated to be $2 million and the first year's operating expenses sum to $1,2 million. We know that the company will use the straight-line depreciation method with no salvage value and a depreciable life of 2 years. Furthermore, if the equipment is qualified for 100% bonus depreciation, the company's income tax in the first year will be one-fourth of that if the equipment is qualified for only 60% bonus depreciation. Compute the value of X. (Enter your final answer in $1 million. For example, if X is $600,000, you should enter 0.6 as the final answer.)