AllCity, Inc., is financed 39% with debt, 11% with preferred stock, and 50% with common stock. Its cost of debt is 6.1%, its preferred stock pays an annual dividend of $2.54 and is priced at $32. It has an equity beta of 1.12. Assume the risk-free rate is 1.8%, the market risk premium is 7.4% 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.)