You observe the following annualized forward rates:

Time Forward rate

$0$y$1$y $0\mathrm{.}533\%$

$1$y$1$y $1\mathrm{.}77\%$

$2$y$1$y $2\mathrm{.}59\%$

$3$y$1$y $3\mathrm{.}93\%$

$4$y$1$y $3\mathrm{.}48\%$

What is the implied $4-$year spot rate? Enter answer in percents.