Pfd Company has debt with a yield to maturity of 6.7%, a cost of equity of 14.3%, and a cost of preferred stock of 10.4%. The market values of its debt, preferred stock, and equity are $15.2 million, $3.1 million, and $13.8 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 _%