AllCity, Inc., is financed 36% with debt, 14% with preferred stock, and 50% with common stock. Its pretax cost of debt is 6.4%, its preferred stock pays an annual dividend of $2.45 and is priced at $30. It has an equity beta of 1.18. Assume the risk-free rate is 2.4%, the market risk premium is 6.8% 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