Not to belabor this, but I just took a much closer look at the duct in question and I now believe it is the venting duct for our gas furnace and not for the water heater. The two are fairly close together in the garage and there's lots of blown-in insulation in the attic covering everything so it was difficult to see exactly where the duct ended. The duct coming out of the furnace also looks like the right diameter, whereas the vent from the water heater is narrower and does appear to go straight up (we have gas for the dryer and heat so the now missing water heater was in all likelihood gas as well).
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bc
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