Will a fired bullet hit the ground at the same time as a dropped bullet?

[WarPig1976]

A little fun for the crew to consider. A popular T.V program ran an episode a number of years back that answers these questions. I'll post their results after a day or so to give those who wish to play along time to guess.

Two questions, How far do you think a .45 ACP bullet will travel if the muzzle is perfectly level at firing at about waist level?
Will a perfectly level fired bullet and a dropped bullet hit the ground at the same time if they're fired/dropped from the exact same height and instant?

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