Two people were rescued on Saturday from an 80-foot yacht that sank three miles off the coast of St. Augustine Beach in Jacksonville, .
The person driving the $1 million boat told the Coast Guard over the radio that their vessel 'struck an object in the water and was taking on water,' according to a .
The radio mayday was made at 11:37 a.m. The Coast Guard coordinated with county authorities and 'nearby good Samaritans' to assist in the rescue.
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