AllCity, Inc., is financed 44% with debt, 6% with preferred stock, and 50% with common stock. Its pretax cost of debt is 5.7%, its preferred stock pays an annual dividend of $2.48 and is priced at $34. It has an equity beta of 1.11. Assume the risk-free rate is 1.9%, the market risk premium is 7.3% 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 1% (Round to two decimal places.)