Pfd Company has debt with a yield to maturity of 7.5%, a cost of equity of 13.8%, and a cost of preferred stock of 9.2%. The market values of its debt, preferred stock, and equity are $13.8 million, 53.3 million, and $13.3 million, respectively, and its tax rate is 40%. 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.)