If a company uses a $\backslash (12\mathrm{.}3\backslash \%\backslash )$ discount rate with the net present value method, and then does the same analysis, but with a $\backslash (15\mathrm{.}0\backslash \%\backslash )$ discount rate, which of the following is likely to occur?

Both rates will produce the same net present value.

The $\backslash (12\mathrm{.}3\backslash \%\backslash )$ rate will show the project is more profitable than the $\backslash (15\mathrm{.}0\backslash \%\backslash )$ rate.

The $\backslash (15\mathrm{.}0\backslash \%\backslash )$ rate will show the project is more profitable than the $\backslash (12\mathrm{.}3\backslash \%\backslash )$ rate.

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