Sugg H,
Start by identifying your givens
Given:
Initial Height of the wrench (Reference point of measurement is the water level)
Yo = 540m
Gravity
g = -9.8 m/s^2
Solution:
Y = 0m (Wrench hits the water, our reference point is the water level)
Vo (Assume the wrench is released from rest)
Apply Acceleration as a function of position equation, under constant acceleration
2a(Y-Yo) = V^2 - Vo^2
2 * -9.81 * (0 - (540)) = V^2 - 0
2 * -9.81 * -540 = V^2
10584 = V^2
V = 102.9 m/s (Direction of velocity is downward)