A square tile measures 14 inches on each side. If 1 inch = 2.54 centimeters, determine the area of the tile in square centimeters. Round the answer to the nearest square centimeter.
The area of the square tile can be found by squaring the length of one side. Since each side measures 14 inches, the area can be calculated as $14\text{ in.} \times 14\text{ in.} = 196 \text{ in.}^2$.
To convert this area to square centimeters, we need to multiply by the conversion factor $2.54\text{ cm/in.}$ This gives $196\text{ in.}^2 \times 2.54\text{ cm/in.} \approx \boxed{498}$ square centimeters.