Pfd Company has debt with a yield to maturity of 7.02%, a cost of equity of 12.62%, and a cost of preferred stock of 10.46%. The market values of its debt, preferred stock, and equity are $14.5 million, $2.8 million, and $16.7 million, respectively, and its tax rate is 20%. What is this firm's after-tax WACC? Note: Assume that the firm will always be able to utilize its full interest tax shield. Pfd's after-tax WACC is \%. (Round to two decimal places.)