The solid formed (anchor ring) is generally called torus
R = radius of torus = 7"
r = radius of circle = 1"
$V = A_c \times 2\pi R$
$V = \pi r^2 \times 2\pi R$
$V = \pi (1^2) \times 2\pi (7)$
$V = 142\pi^2 ~ \text{in.}^3$
$V = 138.174 ~ \text{in.}^3$ answer