Pfd Company has debt with a yield to maturity of 7.7%, a cost of equity of 15.2%, and a cost of preferred stock of 8.5%. The market values of its debt, preferred stock, and equity are $11.8 million, $3.3 million, and $15.9 million, respectively, and its tax rate is 38%. 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 WACC is %. (Round to two decimal places.)