AllCity, Inc., is financed 45% with debt, 6% with preferred stock, and 49% with common stock. Its cost of debt is 5.7% , its preferred stock pays an annual dividend of $2.51 and is priced at $31. It has an equity beta of 1.11. Assume the risk-free rate is 2.5%, the market risk premium is 7.5% and AllCity's tax rate is 35%.

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 what % ? (Round to two decimal places.)