Well, it all depends on how you calculate it.
It's 2*160*11*512 bytes, 1760 KiB, 1.71875 MiB.
However, for some weird reason PC floppy capacity is described with kilobytes/1000 megabytes, not kilobytes/1024. Using this logic, a PC HD floppy is:
2*80*9*512 bytes, 1440 KiB, 1.40625 MiB. But, if you divide by 1000 and not 1024, you get 1.44 MB.
So indeed if you use this fubared logic you get 1.76 MB. This is not the true capacity, however.
For floppy capacity it seems PC lusers would like us to use 1024 byte kilobytes and 1000 kilobyte megabytes. No thank you, I prefer some consistency here...
[EDIT]
Ok, spotted a rounding error in my original post.. Should have been 1.72MB.

[/EDIT]