For instance the master wave file is 1.04gb; bit rate:2116 kbps; wave sound. The saved file is 714mb; bit rate:1411 kbps; wave sound.
Looks to me like the original wave file of 1.04 GB is actually 24-bit / 44.1 kHz: 24 x 44.1 x 2 (channels) = ~2116. The newly saved file looks like its 16-bit / 44.1 kHz: 16 x 44.1 x 2 (channels) = ~1411.
I'm guessing this recording's about 60min long? With what gear did you record? Did you perform any editing at all on the file, in Audacity or another program? In what software are you looking to find the bit-rate of 2116 and 1411?
I don't use Audacity, but based on the figures you gave (in bold print in the quote above), it appears that Audacity is converting the master file to 24-bit for editing and then it saves the file at 16/44.1.
Audacity doesn't do any conversion during import - only when one edits, and that only if configured to use a different bit-depth than the original file.