Both bullet happen at the same time.
Because the bullet was fired horizontally, there is only a horizontal velocity component that plays no role in the bullet's fall to earth. Gravity is the only force acting vertically downward on the bullet. Because there is no vertical velocity, the bullet will fall downward if it is dropped from a certain height. Both bullets are falling solely due to the action of gravity. As a result, we can say that both bullets will hit the earth at the same time.
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