how can I format a Seagate GoFlex USB drive on a Mac to be usable on a PC also?

I have a Seagate GoFlex USB hard drive that says on the box that it can be used on both a Mac and a PC. How can I plug it into a Mac and format it to work on both a Mac and a PC?
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You can format your external hard disk for Mac and Window. To format a hard disk that is usable for Mac and Windows, you need to select “MS DOS File System” for formatting your hard disk.

See step-by-step details:

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