17. Consider a 4-year zero-coupon bond. It's current YTM is 5.6% per year. Assume the face value is $1000. Assume that one year later interest rates have fallen and now the bond has a YTM of 3.7% (down from one year earlier). Then, two years after that (i.e. 3 years from today), the YTM on the bond is 7.7%. Compute the annualized effective holding period yield assuming you hold the bond from t = 1 to t = 3. Express your answer as an effective annual rate. Enter the holding period yield as a PERCENTAGE, not as a decimal, with at least 4 digits of precision.