AllCity, Inc., is financed 37% with debt, 14% with preferred stock, and 49% with common stock. Its pretax cost of debt is 6.2%, its preferred stock pays an annual dividend of $2.51 and is priced at $26. It has an equity beta of 1.18. Assume the risk-free rate is 22%, the market risk premium is 6.6% 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 %. (Round to two decimal places.)