AllCity, Inc., is financed 36 % with debt, 15 % with preferred stock, and 49 % with common stock. Its cost of debt is 5.7 %, its preferred stock pays an annual dividend of $ 2.45 and is priced at $ 26. It has an equity beta of 1.11. Assume the risk-free rate is 1.6 %, the market risk premium is 6.7 % 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.)