AllCity, Inc., is financed 40% with debt, 13% with preferred stock, and 47% with common stock. Its pretax cost of debt is 6.4%, its preferred stock pays an annual dividend of $2.46 and is priced at $34. It has an equity beta of 1.18. Assume the risk-free rate is 2.4%, the market risk premium is 7.4% 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.)