Switch to Vertex Geometry Mode and select Cut from the Edit Geometry rollout. Perform 2 Cuts as shown.
Now click Target Weld from the Edit Vertices rollout and weld the vertices shown in the image. Click on each inner vertex and drag it with the Target Weld onto the corresponding border vertex. Right click when you're done.
Switch to Polygon Subobject and select these two polygons. Bevel them with Bevel Type: Group; Height: 1.7; Outline Amount: 0. Hit OK. Exit Geometry Mode(click one more time on Polygon). Throw a Mesh Smooth with Iterations set to 2 on our object.
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