So he offers his son two choices: his son can either withdraw $X right away when Warren passes away or take a growing perpetuity which pays $1,000,000 at the end of the first year after Warren passes away and grows at 5% forever. Assume his son is rational and makes decisions based on his finance knowledge, also assume the discount rate is 12%, how large can the value of X be so that it will prevent his son from withdrawing at once?