A planar conducting loop moves at a constant horizontal velocity \(\vec{v}\) through a region containing a magnetic field directed perpendicular to the plane of the loop. In Location 1, the loop is located entirely inside a uniform magnetic field. In Location 2, the loop is partially across the boundary, exiting the magnetic field into a field-free region. Which of the following statements correctly compares the net induced current in the loop at Location 1 and Location 2, and provides the correct physical reasoning?