XYZ Corporation is evaluating a potential investment in a new project. The initial investment in the project is $500,000, and it is expected to generate cash flows of $100,000 per year for the next five years. The corporation's required rate of return for the project is 10%. The project has a residual value of $50,000 at the end of the five years. Should the corporation invest in this project? Use the net present value (NPV) method to evaluate the investment.

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