AllCity, Inc., is financed 38% with debt, 15% with preferred stock, and 47% with common stock. Its cost of debt is 5.8%, its preferred stock pays an annual dividend of $2.48 and is priced at $33. It has an equity beta of 1.1. 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.)