The square piece of wood measures 32 in per side,
Then the circle that can be cut off it has a radius of 16 in (half of the diameter 32 in)
Therefore, the area of the circle is going to be given by the formula:
And the area of the initial square was:
Area = 32^2 in^2 = 1024 in^2
Therefore the left-overs of the piece of wood would be the difference:
1024 in^2 - 803.84 in^2