AllCity, Inc., is financed 43% with debt, 12% with preferred stock, and 45% with common stock. Its cost of debt is 6.4%, its preferred stock pays an annual dividend of $2.54 and is priced at $33. It has an equity beta of 1.16. Assume the risk-free rate is 2%, the market risk premium is 65% 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)