Pfd Company has debt with a yield to maturity of 8.3 % a cost of equity of 14.9 % and a cost of preferred stock of 8.7 %. The market values of its debt, preferred stock, and equity are $ 14.8 million, $ 3.4 million, and $ 16.2 million, respectively, and its tax rate is 38 %. What is this firm's after-tax WACC?

Pfd's WACC is %.