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I was watching myth busters, and they were doing a test to see how far bullets travel underwater. They took like an m1, musket, m16, and that huge .50cal sniper rifle. The m1 i believe made it the farthest by going like 5 feet, and all the other bullets (including the .50cal) didn't even go 3 feet because the bullet just shattered as soon as it hit the water. The muskett ball went way off course. So basically 3 feet of water is all you need to protect yourself from a .50cal.

Thought it was nifty.