Boat Bottom Hook
 

So I went and looked at an old school race boat today and I noticed that the transom was hanging off the bunks of trailer. By eye I can see a hook about 12" long and it drops about 3/8". Owner says top speed has always been about mid 70s and seems to have a ton of prop slip about 4000 rpms. Would the hook cause this? How could this be fixed and about how much? Its a 30' boat with a deep 25 degree V hull. Also anyone fix this kind of stuff in NJ or nearby area?

Thanks Anthony

If the hook is is the only issue, this should be able to be fixed for $2-3k. If you wanted to true the last 8', probably triple the cost.