AllCity, Inc., is financed 40% with debt, 15% with preferred stock, and 45% with common stock. Its cost of debt is 5.7%, its preferred stock pays an annual dividend of $2.48 and is priced at $26. It has an equity beta of 1.2. Assume the risk-free rate is 1.6%, the market risk premium is 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.)