AllCity, Inc., is financed 35% with debt, 15% with preferred stock, and 50% with common stock. Its cost of debt is 5.9%, its preferred stock pays an annual dividend of $2.47 and is priced at $27. It has an equity beta of 1.19. Assume the risk-free rate is 1.6%, the market risk premium is 7.4% 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. The WACC is %. (Round to two decimal places.)