AllCity, Inc., is financed 43% with debt, 9% with preferred stock, and 48% with common stock. Its pretax cost of debt is 6%, its preferred stock pays an annual dividend of $2.53 and is priced at $26. It has an equity beta of 1.11. Assume the risk-free rate is 2.4%, the market risk premium is 6.7% 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.)