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Pfd Company has debt with a yield to maturity of 5.6%, a cost of equity of 15.2%, and a cost of preferred stock of 10.2%.

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Pfd Company has debt with a yield to maturity of 5.6%, a cost of equity of 15.2%, and a cost of preferred stock of 10.2%. The market values of its debt, preferred stock, and equity are $11.7 million $2.6 million, and $16.1 million, respectively, and its tax rate is 25%. 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.)

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