AllCity, Inc., is financed 39% with debt, 6% with preferred stock, and 55% with common stock. Its pretax cost of debt is 6.4%, its preferred stock pays an annual dividend of $2.55 and is priced at $28. It has an equity beta of 1.18. Assume the risk-free rate is 2.2%, the market risk premium is 7% 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.)