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AllCity, Inc., is financed 3 8 % with debt, 9 % with preferred stock, and 5 3 % with common stock. Its pretax cost of

AllCity, Inc., is financed 38% with debt, 9% with preferred stock, and 53% with common stock. Its pretax cost of debt is 6.24%, its preferred stock pays an annual dividend of $2.49 and is priced at $31.72. It has an equity beta of 1.13. Assume the risk-free rate is 2.46%, the market risk premium is 7.06% and AllCity's tax rate is 25%. What is its after-tax WACC?
Note: Assume that the firm will always be able to utilize its full interest tax shield.
AllCity's after-tax WACC is %.(Round to two decimal places.)
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