Bent rear axleshaft?

What is excessive for runout on a rear axleshaft? I'm pretty sure its bent, I plan on using a magnet mount dial indicator tonight to measure at the hub flange, just eyeballing it there is about 3/16" of in and out movement at the edge of the rim. rim and drum move together. Its an 8.8 out of a wrecked ford.

From what I can dig up here at Randy's Ring and Pinion it's around .005