AllCity, Inc., is financed 42% with debt, 11% with preferred stock, and 47% with common stock. Its cost of debt is 5.9%, its preferred stock pays an annual dividend of $2.49 and is priced at $28. It has an equity beta of 1.13. Assume the risk-free rate is 1.6%, the market risk premium is 6.6% 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.) Enter your answer in the answer box and then click Check