sapper, you were correct about the density of water being negligible. you were incorrect about the amount of ice above the water level being negligible. it would be more appropriate to say that the amount that is above the water level doesn't matter, because even if ice were very fluffy and most of it floated above the surface, it's still true that mass of water displaced = mass of object floating. There's a difference between a factor being negligible and a factor making no difference.
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oh baby oh baby, i like gravy.
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