Trillity Inc., is financed 30% with debt, 20% with preferred stock, and 50% with common stock. Its cost of debt is 7%, its preferred stock pays an annual dividend of $1.2 and is priced at $20. It has an equity beta of 1.2. Assume the risk-free rate is 3%, the market risk premium is 7% and Trillity's tax rate is 40%. What is its after-tax WACC?