32GB E Series P2 Card is Only 29.37GB After Formatting?

Obviously I didn't expect 32 full GB, but is that the norm? After using and dumping, the card was reformatted. When looking on my MBP, I realized it said 29.37. Is that close to the average. Just wondering. Any help is appreciated.
 
The previous cards(16GB and 8GB A series), all had a small difference when formatted. So, I wanted to check. This is becoming like Hard drives(200GB drive that is 193 BEFORE formatting, but is classified as 200).
 
Well don't give the gov't any ideas, I'm sure some Congressperson would love to take 'falsity in GB advertising' on and waste more taxpayer dollars.

Noah
 
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