Pfd Company has debt with a yield to maturity of 6.6%, a cost of equity of 13.2%, and a cost of preferred stock of 9.8%. The market values of its debt, preferred stock, and equity are $9.9 million, $3.2 million, and $13.8 million, respectively, and its tax rate is 35%. 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.)