Pid Company has debt with a yield to maturity of 8.2%, a cost of equity of 12.6%, and a cost of preferred stock of 8.7%. The market values of its debt, preferred stock, and equity are $9.7 million, $2.6 million, and $15.9 million, respectively, and its tax rate is 40%, what is this firm's after-tax WACC? Pfd's WACC is 1 %. (Round to two decimal places.)