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We can use the formula C = 2Ï€r, where C is the circumference and r is the radius. Solving for r, we get:
r = C/2Ï€
Substituting C = 4*3.14, we get:
r = (4*3.14)/(2*3.14) = 2
Now that we know the radius is 2, we can use the formula for the area of a circle:
A = πr^2
Substituting r = 2, we get:
A = 3.14*(2^2) = 12.56
Therefore, the area of the circle is 12.56 square units, in terms of 3.14.