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Warren has a lot of money to pass down to his only son. He is very worried that his son will withdraw all the money

Warren has a lot of money to pass down to his only son. He is very worried that his son will withdraw all the money he passes down at once and waste it. So he offers his son two choices: his son can either withdraw $X all at once when he passes away or take a growing perpetuity which pays $500,000 at the end of the first year after Warren passes away and grows at 10% forever. Assume his son is rational and makes decisions based on his finance knowledge, also assume the discount rate is 14%, how large can the value of X be so that it will prevent his son from withdrawing at once?

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