Step 1: Use Stefan-Boltzmann law for net radiation.
The net rate of energy exchange is given by
\[
P=e\sigma A(T^4-T_0^4)
\]
Here,
\[
e=0.5,\quad A=4\ \text{m}^2,\quad T=400\ \text{K},\quad T_0=200\ \text{K}
\]
Step 2: Substitute the values.
\[
P=0.5\times 5.67\times10^{-8}\times4\left(400^4-200^4\right)
\]
Now,
\[
400^4=256\times10^8
\]
and
\[
200^4=16\times10^8
\]
So,
\[
400^4-200^4=240\times10^8
\]
Step 3: Calculate the net power.
\[
P=0.5\times4\times5.67\times10^{-8}\times240\times10^8
\]
\[
P=2\times5.67\times240
\]
\[
P=2721.6\ \text{W}
\]
Step 4: Final conclusion.
Hence, the net rate of energy exchange is
\[
\boxed{2721.6\ \text{W}}
\]