AllCity, Inc., is financed 36% with debt, 9% with preferred stock, and 55% with common stock. Its pretax cost of debt is 6.1%, its preferred stock pays an annual dividend of $2.53 and is priced at $28. It has an equity beta of 1.19. Assume the risk-free rate is 1.7%, the market risk premium is 7.2% 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 enter your response here ____. %. (Round to two decimal places.)