Pfd Company has debt with a yield to maturity of 5.6%, a cost of equity of 13.1%, and a cost of preferred stock of 8.6%. The market values of its debt, preferred stock, and equity are $13.6 million, $2.8 million, and $13.4 million, respectively, and its tax rate is 38%. What is this firm's after-tax WACC? Pfd's WACC is \%. (Round to two decimal places.)