Select the Ellipse Tool (L). Hold down the Shift key to constrain the
ellipse to a circle. Draw four circles to the sizes shown. Drag horizontal
and vertical guidelines from the screen rulers to help align the circles.
Use the Alignment menu (Arrange > Alignment) to center the circles.
Select the two large circles and from the Arrange menu, select
Combine Shapes > Subtract Shapes, or press Ctrl + 2, the keyboard
shortcut.