AllCity, Inc., is financed 44% with debt, 10% with preferred stock, and 46% with common stock. Its pretax cost of debt is 5.6%, its preferred stock pays an annual dividend of $2.48 and is priced at $27. It has an equity beta of 1.18. Assume the risk-free rate is 1.6%, the market risk premium is 7.1% 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.)