AllCity, Inc., is financed 36% with debt, 12% with preferred stock, and 52% with common stock. Its cost of debt is 6.4%, its preferred stock pays an annual dividend of $2.46 and is priced at $31. It has an equity beta of 1.15. Assume the risk-free rate is 2.4%, the market risk premium is 6.6% and AllCity's tax rate is 35%. 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.)