AllCity, Inc., is financed 45% with debt, 6%with preferred stock, and 49%with common stock. Its cost of debt is 5.8%,its preferred stock pays an annual dividend of$2.55and is priced at$ 34$34.It has an equity beta of 1.19.Assume the risk-free rate is 2.1%,the market risk premium is 7.4%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 __%. (Round to two decimal places.)