Cibolo, Inc., is financed 37% with debt, 13% with preferred stock, and 50% with common stock. Its cost of debt is 6%, its preferred stock pays an annual dividend of $2.47 and is priced at $30. It has an equity beta of 1.15. Assume the risk-free rate is 2.2%, the market risk premium is 7.3% and Cibolo's tax rate is 25%. What is its after-tax WACC? a. 5.94% b. 8.59% c. 6.23% d. 8.03%