A semicircle has diameter $\overline{AB}$ and chord $\overline{CD}$ of length $16$ parallel to $\overline{AB}$. A smaller semicircle with diameter on $\overline{AB}$ and tangent to $\overline{CD}$ is cut from the larger semicircle, as shown below.

What is the area of the resulting figure, shown shaded? $\textbf{(A) } 16\pi \qquad$ $\textbf{(B) } 24\pi \qquad$ $\textbf{(C) } 32\pi \qquad$ $\textbf{(D) } 48\pi \qquad$ $\textbf{(E) } 64\pi$