1. **State the problem:** We need to find the area of a circle with radius $r = 1$ yard. 2. **Formula for the area of a circle:** The area $A$ is given by the formula $$A = \pi r^2$$ where $r$ is the radius. 3. **Substitute the radius:** Here, $r = 1$, so $$A = \pi \times 1^2 = \pi$$ 4. **Calculate the numerical value:** Using $\pi \approx 3.14159$, $$A \approx 3.14159$$ 5. **Round to the nearest hundredth:** $$A \approx 3.14$$ **Final answer:** The area of the circle is approximately $3.14$ square yards.