Pfd Company has debt with a yield to maturity of 8.3%, a cost of equity of 15.4%, and a cost of preferred stock of 8.9%. The market values of its debt, preferred stock, and equity are $10.2 million, $3.4 million, and $14.4 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.