The following information was collected for Mastermind Pty Ltd, which is an unlevered company operating in the US: Current market price for preferred stock: $105.87 per share Annual dividend on preferred stock: $7.10 per share Proportion of preferred stock in capital structure: 35% Cost of common stock: 11.52% p.a. Corporate tax rate: 21% What is an appropriate after-tax cost of capital for this company? Your response must be entered as a numerical value with 3 decimal places and excluding the percentage sign (\%)