Assume thаt investоrs hоld Alphаbet Inc (GOOGL) stоck in retirement аccounts that are free from personal taxes. Also assume that GOOGL's current pre-tax WACC is 12% and its corporate tax rate is 45%. If GOOGL were to issue sufficient debt at a pre-tax cost of 6% to give them a debt to value ratio of 0.7, then the Google's after-tax WACC would be closest to: