AllCity, Inc., is financed 37% with debt, 11% with preferred stock, and 52% with common stock. Its cost of debt is 5.6%, its preferred stock pays an annual dividend of $2.55 and is priced at $30. It has an equity beta of 1.12. Assume the risk-free rate is 2.4%, the market risk premium is 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.)