This problem asks for the volume of a cylinder given its radius and height.
The formula to calculate the volume ($V$) of a cylinder is:
$ V = \pi r^2 h $
$ V = \frac{22}{7} \times (28 \text{ cm})^2 \times (40 \text{ cm}) $
$ (28 \text{ cm})^2 = 28 \text{ cm} \times 28 \text{ cm} = 784 \text{ cm}^2 $
$ V = \frac{22}{7} \times 784 \text{ cm}^2 \times 40 \text{ cm} $
$ \frac{784}{7} = 112 $
$ V = 22 \times 112 \text{ cm}^2 \times 40 \text{ cm} $
$ V = 22 \times (112 \times 40) \text{ cm}^3 $
$ V = 22 \times 4480 \text{ cm}^3 $
$ V = 98560 \text{ cm}^3 $
The calculated volume of the cylinder is 98560 $cm^3$.