AllCity, Inc., is financed 37% with debt, 7% with preferred stock, and 56% with common stock. Its cost of debt is 6%, its preferred stock pays an annual dividend of $2.49 and is priced at $32. It has an equity beta of 1.15. Assume the risk-free rate is 1.8%, the market risk premium is 6.8% 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 7.55 %. (Round to two decimal places.)