Visibility Hidden vs Display None

There are three paragraphs below with an image that floats right. The text wraps around the image. All paragraphs markup match with the exception of display none and visibility hidden. The first paragraph has the text and the image. The second paragraph has display none on the image. The third paragraph has visibility hidden on the image. You will note that in the second and third paragraph, screen readers cannot find the image. However, visually, the second paragraph is as if the image is not there. But the third paragraph leaves the space for the image.

Example 1

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Visibility Hidden vs Display None

Example 1

Example 2

Example 3