Concept:
The shaded portion consists of
\[
\text{(Left semicircle of radius }R\text{)}
-
\text{(two semicircular holes of radius }R/2\text{)}.
\]
The required axis is the diameter \(AB\).
Hence,
\[
I_{\text{shaded}}
=
I_{\text{left semicircle}}
-
2I_{\text{small semicircle}}.
\]
Step 1: Moment of inertia of the left semicircle about \(AB\).
For a complete disc,
\[
I_{AB}=\frac{MR^2}{4}.
\]
Since the axis \(AB\) divides the disc into two equal halves and the integrand \(x^2\) is symmetric,
\[
I_{\text{left semicircle}}
=
\frac12\left(\frac{MR^2}{4}\right).
\]
Therefore,
\[
I_{\text{left semicircle}}
=
\frac{MR^2}{8}.
\]
Step 2: Mass of each removed semicircle.
Radius of each small semicircle:
\[
r=\frac{R}{2}.
\]
Mass is proportional to area.
The area of one semicircle is
\[
\frac12\pi\left(\frac{R}{2}\right)^2
=
\frac{\pi R^2}{8}.
\]
Since the area of the full disc is
\[
\pi R^2,
\]
the mass of one small semicircle is
\[
m
=
M\left(\frac{\pi R^2/8}{\pi R^2}\right)
=
\frac{M}{8}.
\]
Step 3: Moment of inertia of one small semicircle about \(AB\).
For a full circle of radius \(r\),
\[
I_{\text{diameter}}
=
\frac{m_{\text{full}}r^2}{4}.
\]
A semicircle contributes exactly half of this value about the same diameter.
Hence
\[
I_{\text{small}}
=
\frac{mr^2}{4}.
\]
Substituting
\[
m=\frac{M}{8},
\qquad
r=\frac{R}{2},
\]
we obtain
\[
I_{\text{small}}
=
\frac{1}{4}
\left(\frac{M}{8}\right)
\left(\frac{R}{2}\right)^2.
\]
\[
=
\frac{MR^2}{128}.
\]
Step 4: Subtract the two removed semicircles.
\[
I_{\text{shaded}}
=
\frac{MR^2}{8}
-
2\left(\frac{MR^2}{128}\right).
\]
\[
=
\frac{16MR^2}{128}
-
\frac{2MR^2}{128}.
\]
\[
=
\frac{14MR^2}{128}.
\]
\[
=
\frac{7MR^2}{64}.
\]
Step 5: Final answer.
\[
\boxed{
I_{AB}
=
\frac{7MR^2}{64}
}
\]