AllCity, Inc, is financed 44% with debt, 11% with preferred stock, and 45% with common stock. Its pretax cost of debt is 6%, its preferred stock pays an annual dividend of $2.53 and is priced at $29. It has an equity beta of 1.15 Assume the risk-free rate is 1.7%, the market risk premium is 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.)