(a) All vessels subject to this subchapter shall be divided into classes as follows and subject to the appropriate registration fees:

Class A—less than 16 feet $20 per year
Class 1—16 feet or over and less than 26 feet in length $40 per year
Class 2—26 feet or over and less than 40 feet in length $60 per year
Class 3—40 feet or over and less than 65 feet in length $100 per year
Class 4—65 feet or over and not required to be documented $120 per year