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Would I be correct in using the following equation to solve for the amount V of water displaced by the rod?

(900 kg/m^3)(9.8 m/s^2)(0.06 m) - (2000 kg/m^3)(9.8 m/s^2)(0.04 m) + (1000 kg/m^3)(V) = 0

Am I on the right path here? If not, can someone point me in the right direction?