AllCity, Inc., is financed 40% with debt, 8% with preferred stock, and 52% with common stock. Its cost of debt is 5.9%, its preferred stock pays an annual dividend of $2.54 and is priced at $25. It has an equity beta of 1.11. Assume the risk-free rate is 2.1%, the market risk premium is 6.8% 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.)