A 10-year, 4% semiannual coupon is priced at 97.7834 per 100 of par value. The bond's annual yield to maturity, quoted on a semiannual bond basis is 4.27%. An analyst has been asked to convert to a periodicity of 4 compounding periods per year.

Under this conversion, the bond's annual yield to maturity is _______ %.

Include two decimal places in your answer and do not include the percent symbol. For example, if the bond's annual yield to maturity is 95.25% then answer 95.25, not .95, not 95.25%.