If a company uses a $11\mathrm{.}9\%$ discount rate with the net present value method, and then does the same analysis, but with a $15\mathrm{.}4\%$ discount rate, which of the following is likely to occur?

The $11\mathrm{.}9\%$ rate will show the project is more profitable than the $15\mathrm{.}4\%$ rate.

The relative profitability of the two studies depends only on the timing of the cash flows, not on the discount rate.

The $15\mathrm{.}4\%$ rate will show the project is more profitable than the $11\mathrm{.}9\%$ rate.

Both rates will produce the same net present value.