Williams-Brice Inc has outstanding bonds with par value of $1,000, a coupon rate of 8%, semi-annual coupon payments, and 20 years remaining until maturity. If the bond's market price is $1,058, what is Williams-Brice's pre-tax cost of debt? Enter your answer as an annualized rate in decimal format, and show four decimal places. For example, if your answer is 5.1%, enter .0510.