---

You can't raise the engine this way, as Phil indicated, since your engine is blind hole mounted.
You will have to completely remove the engine from the boat to do a proper job.

I have mounted an engine with the modern B.I.A. bolt pattern on a hull like yours. To bring the bottom set of bolts into the splash well, the engine will HAVE to be mounted 1-1/2" high at minimum, maybe a touch more. That is all the height you will want or can use with a 42 MPH rig. You will need a Stiletto prop, since they are made in relatively low ptiches.

With the engine off, you will first have to fill the blind holes, with method of your choice. You may also have to fill the top holes also, depending on how high you want the engine. Then you will have to drill new holes from a BIA template, (or full size drawing you can make up). The deciding placement will be determined by the BOTTOM set of holes so that the bolts come into the splashwell and can receive the washers/locknutsnuts. Let the top holes fall where they may. Top bolts go in from the inside, nuts on the outside. A transom bolt plate is advised on the inside top bolts, about $25., since you may be closer to the top than the recommended 1-7/8".

There is an excellent B.I.A. bolt pattern drawing on this site for reference. In your case, the vertical spacing of the bolts will have to be changed from the standard 8" to 6-1/2".