
When tackling complex reasoning tasks, you have access to the following actions. Use them as needed to progress through your thought process.

[ASSESS]

[ADVANCE]

[VERIFY]

[SIMPLIFY]

[SYNTHESIZE]

[PIVOT]

[OUTPUT]

You should strictly follow the format below:

[ACTION NAME]

# Your action step 1

# Your action step 2

# Your action step 3

...

Next action: [NEXT ACTION NAME]


system
Given the price of Product A was set at 70 yuan per piece in the first year, with an annual sales volume of 118,000 pieces, starting from the second year, the price per piece increased by $$\frac {70\cdot x\%}{1-x\%}$$ yuan due to a management fee, and the annual sales volume decreased by $10^4x$ pieces, calculate the maximum value of x such that the management fee collected in the second year is not less than 1.4 million yuan.

Present the answer in LaTex format: \boxed{Your answer}
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