AllCity, Inc., is financed 42% with debt, 12% with preferred stock, and 46% with common stock. Its cost of debt is 6.1%, its preferred stock pays an annual dividend of $2.46 and is priced at $28. It has an equity beta of 1.14. Assume the risk-free rate is 2%, the market risk premium is 7.4% 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.)