Pfd Company has debt with a yield to maturity of $7\mathrm{.}6\%,$ a cost of equity of $14\mathrm{.}4\%,$ and a cost of preferred stock of

$9\mathrm{.}1\%.$ The market values of its debt, preferred stock, and equity are $$15\mathrm{.}1$ million, $$2\mathrm{.}8$ million, and $$15\mathrm{.}9$ million,

respectively, and its tax rate is $21\%.$ What is this firm's after$-$tax WACC?

Note: Assume that the firm will always be able to utilize its full interest tax shield.

$($i$)$ Click the icon to see the Worked Solution $($Formula Solution$).$

Pfd$\text{'}$s WACC is $10\mathrm{.}21\%.($Round to two decimal places.$)$