Sandhill Co$.$ has a capital structure, based on current market values, that consists of $35$ percent debt, $19$ percent preferred stock, and $46$ percent common stock. If the returns required by investors are $12$ percent, $13$ percent, and $15$ percent for the debt, preferred stock, and common stock, respectively, what is Sandhill's after$-$tax WACC? Assume that the firm's marginal tax rate is $28$ percent. $($Do not round intermediate calculations. Round answer to $1$ decimal place, e$.$g$.15\mathrm{.}2\%.)$

After tax WACC

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