Which of the following formulas would you use to calculate the volume of an elliptic cylinder, where a=7 cm , b=4 cm , and h=10 cm ? Enter the number of the correct answer option, and calculate the volume as a decimal.

Option #1: V=πabh
Option #2: V=πr2h
Option #3: V=π(ab)2h

Option #1: V=πabh

Substitute the given values:
V = π(7 cm)(4 cm)(10 cm)
V = 280π cm^3

Volume ≈ 879.65 cm^3

Therefore, the correct option is #1 and the volume of the elliptic cylinder is approximately 879.65 cm^3.