XYZ Corporation is considering a new project that requires an initial investment of $$500,000.$ The project is expected to generate cash inflows of $$150,000$ per year for the next $5$ years. Additionally, the salvage value of the project at the end of year $5$ is estimated to be $$50,000.$ To evaluate the project's financial viability, which of the following methods would be most appropriate?

Net Present Value $($NPV$)$

Payback Period

External Rate of Return $($ERR$)$

Accounting Rate of Return $($ARR$)$