The function $V(t)=10000(0.7{)}^{\frac{t}{4}}$ gives the value, in dollars, of an asset after $t$ months of ownership. If the value of the asset decreases each year by $p\%$ of its value the preceding year, what is the value of $p$?

(Assume 1 year = 12 months. Round your answer to the nearest tenth of a percent, but grid in the decimal value.)