AllCity, Inc., is financed 43% with debt, 12% with preferred stock, and 45% with common stock. Its pretax cost of debt is 5.5%, its preferred stock pays an annual dividend of $2.53 and is priced at $28. It has an equity beta of 1.14 . Assume the risk-free rate is 1.7%, the market risk premium is 6.9% and AllCity's tax rate is 25%. 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.)