For Atwood machines with a massive pulley of mass \(M_p\) and inertia shape factor \(\beta\) (where \(I = \beta M_p R^2\)), the linear acceleration can be quickly computed as:
\[ a = \frac{(m_1 - m_2)g}{m_1 + m_2 + \beta M_p} \]
Here, \(m_1 = M\), \(m_2 = M/2\), and \(\beta = 1/2\) for a solid disc of mass \(M\).
Substituting these gives \(a = \frac{M/2}{M + M/2 + M/2} g = \frac{g}{4}\), so \(\alpha = \frac{g}{4R}\).