Assume two $1,000 investments with identical discount rates, cash flows and duration. The first investment is discounted using the full- year convention. The second is discounted using the mid-year convention. Which of the following is a correct statement? The first investment will have a higher present value than the second investment. The first investment will have a higher present value, but the investments will have identical IRRs. The second investment will have a higher present value than the first investment. The investments will have identical present values and IRRS