If in the States and doing a cover version this is the Harry Fox Agency rates. I searched your song on there but they dont have it in their database.
Quote: "The current statutory mechanical royalty rate is $.091 (9.1 cents) per song per unit for recordings of compositions up to five minutes (5:00) in length.
For example, if one were to make a recording of a song that is less than five minutes in length (e.g. 4:07) and then manufacture and distribute 500 units of the recording, the total amount of royalties due would be $45.50. ($0.091 X 500 (units) = $45.50)."
There is also Limelight if you wanted to do a cover yourself:
http://www.songclearance.com/
If you want to use the mechanical recording as is you would have to contact the owner of copyright directly.
Awesome! Its one of those threads.