A circle with radius of \greenD{1\,\text{cm}}1cmstart color greenD, 1, space, c, m, end color greenD sits inside a \blueD{11\,\text{cm} \times 12\,\text{cm}}11cm×12cmstart color blueD, 11, space, c, m, times, 12, space, c, m, end color blueD rectangle.

What is the area of the shaded region?

Round your final answer to the nearest hundredth.