Answer :
The lens will form real image that can be focused screen.
As air has less optical density than water, and the shape of air lens is concave, it would act as converging lens when placed in water. And hence it can form a real image that can be focused on a screen.
The behavior of lens can be justified by calculating the focal length. For concave lens R1 is negative and R2 is positive.
Since, focal length is positive and behave as converging lens and forms the real image.
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