Well, do the following test. Get 2 Coca-Cola cans. Open one of them, drink it & crush it down to a wafer. May be even hammer it down as much as you can to get rid of any air space in it. Then throw both the crushed Coca-Cola cab together with the unopened one. Which one would sink faster?
If both cans have no air in them, I bet you they will sink about the same time.
Well it could also depend on whether this is done in fresh or salt water. Assuming that coke has the density of fresh water, then the full can in salt water would have some buoyancy.