An interest rate swap has three years of remaining life. Payments are exchanged annually. Interest at 1.8% is paid and 12-month LIBOR is received. A exchange of payments has just taken place. The one-year, two-year and three-year LIBOR/swap zero rates are 3.3%, 4% and 6%. Al rates an annually compounded. What si the value of the swap as a percentage of the principal when LIBOR discounting is used?