My theory and feelings on Polytrack

Pgard,
If you can please answer as many of these questions as possible.

1) What is the average cost of maintaining a thoroughbred horse including vet bills, day rate by a trainer, shipping, and shoeing per year?

2) What percentage of owners show a profit on horses strictly through racing?

3) What is the formula for determining value of a sire before a stud deal is done?

4) Since the reformed tax legislation in the 80's which reversed the previous practice of being able to write off all horse racing business losses along with all other business losses, has ownership increased or decreased in thoroughbred horses?