llCity, Inc., is financed 45 % with debt, 13 % with preferred stock, and 42 % with common stock. Its cost of debt is 5.9 %, its preferred stock pays an annual dividend of $ 2.48 and is priced at $ 35. It has an equity beta of 1.12. Assume the risk-free rate is 2.3 %, the market risk premium is 6.7 % and AllCity's tax rate is 35 %. What is its after-tax WACC?

AllCity, Inc., is financed 45% with debt, 13% with preferred stock, and 42% with common stock Its cost of debt is 5.9%, its preferred stock pays an annual dividend of $2.48 and is priced at $35. It has an equity beta of 1.12. Assume the risk-free rate is 2.3%, the market risk premium is 6.7% 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) Pre