Final answer:
Larry can save the restored photograph in JPEG or PNG, both offer millions of colors with JPEG providing a balance between quality and file size due to lossy compression, while PNG offers lossless compression with perfect data reconstruction.
Step-by-step explanation:
Larry can use the most common JPEG or PNG formats to save the file. Both these formats have their advantages when it comes to saving digital images. JPEG is a commonly used method of lossy compression for digital images, especially for those images produced by digital photography. It offers a good trade-off between image quality and file size. PNG, on the other hand, provides a lossless compression, meaning the original data can be perfectly reconstructed from the compressed data. It's particularly useful for images with text or sharp edges and for images that require transparency.
When deciding which one to use, it depends on whether the restoration requires the highest quality without regard for file size (PNG), or a smaller file size is important and some loss of quality is acceptable (JPEG).