The formula for the volume of a square pyramid is:
V = (1/3) × base area × height
Since each side of the base of the square pyramid is 723 feet long, the area of the base is:
base area = (723 feet)^2 = 522,129 square feet
Substituting this value and the height of the pyramid (341 feet) into the formula, we get:
V = (1/3) × 522,129 square feet × 341 feet
Multiplying and simplifying, we get:
V = 62,695,147 cubic feet
Therefore, the volume of the statue is approximately 62,695,147 cubic feet.