AllCity Inc. is financed 50% with debt, 10% with preferred stock, and 40% with common stock. Its pre-tax cost of debt is 6%; its preferred stock pays an annual dividend of $3.25 and is priced at $30. It has an equity beta of 1.2. Assume the risk-free rate is 2%, the market risk premium is 5%, and AllCity's tax rate is 35%. What is its after-tax WACC