Assume the zero-coupon yields on default-free securities are as summarized in the following table: 1 year Maturity Zero-Coupon Yields 2 years 3.30% 3 years 3.70% 4 years 4.00% 5 years 4.20% 3.00% Consider a four-year, default-free security with annual coupon payments and a face value of $1,000 that is issued at par. What is the coupon rate of this bond? The par coupon rate is %. (Round to two decimal places.)