Pfd Company has debt with a yield to maturity of 6.9%, a cost of equity of 12.9%, and a cost of preferred stock of 8.5%. The market values of its debt, preferred stock, and equity are $10.6 million, $3.1 million, and $16.8 million, respectively, and its tax rate is 38%. 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.)