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With elevation comes reduced atmospheric pressure and combustion engines suffer performance degradation.

Electronic fuel injected motors experience less drop than carburated engines.

At 5100 ft above sea level you loose 6.1 horsepower. The 40hp is now a 33.9 hp engine.

The Black Max 14 pitch came with the engine/boat from Boston Whaler.

While the 130 Sport of that era was not a stellarly fast at sea level with a 40hp engine, in your location it is a bit of a dog.

To help offset the elevation, you should lower the pitch of the prop. I would estimate a 12" pitch of the same make and model of prop would help. Note the boat's top speed will not increase.

The only way to gain speed would be to replace the engine with more horsepower. A 60 or 70 would bring you back up to to the upper 30's.