Hilltop, Inc. is financed 44% with debt, 14% with preferred stock, and 42% with common stock. Its cost of debt is 6%, its preferred stock pays an annual dividend of $2.47 and is priced at $31. It has an equity beta of 1.12. Assume the risk-free rate is 1.9%, the market risk premium is 7.2% and Hilltop's tax rate is 35%. What is its after-tax WACC?
Note: Assume that the form will always be able to utilize its full intereytax shield.