Pfd Company has debt with a yield to maturity of 6.3 % , a cost of equity of 13.1 % , and a cost of preferred stock of 9.3 % . The market values of its debt, preferred stock, and equity are $ 14.8 million, $ 3.1 million, and $ 16.4 million, respectively, and its tax rate is 35 % . What is this firm's after-tax WACC?