AllCity, Inc., is financed 30% with debt, 20% with preferred stock, and 50% with common stock. Its cost of debt is 7%, its preferred stock pays an annual dividend of $1.2 and is priced at $20. It has an equity beta of 1.2. Assume the risk-free rate is 3%, the market risk premium is 7% and AllCity's tax rate is 40%. What is its after-tax WACC? Answer: ___%. (Answer in % and round to two decimal places. For example, if your answer is 12.34%, answer 12.34. Don't answer 0.12, 0.1234, or 12.34%.) Note: Assume that the firm will always be able to utilize its full interest tax shield