To calculate the percentage of volume submerged for the wood in the ocean, the density of the wood (1.428 x 10^-3 kg/m3) is compared to the density of seawater. Since the density of the wood is less than that of seawater, it will float, but the exact percentage of volume above water can be determined using the principle of buoyancy. The submerged volume is equal to the volume of water displaced, which is influenced by the object's density relative to the fluid. If the wood's density were greater than seawater, it would sink, but in this case, it will float with a portion submerged. Understanding these principles clarifies how buoyancy and displacement affect floating objects.