S2 11.0C Keel stepped mast repair

I have a S2 11.0C with keel stepped mast I bought about 6 months ago. It appears that the Mast sits on a block of wood that has been fiber glassed over. It looks like that mast has sunk about 1/4". I drilled into the fiberglass to find that the wood within has some wet rott. My current plan is to remove the mast, remove all the wood, replace with some kind of epoxy then replace the mast. Prior to doing this I wanted to gather as much info as possible so here are the questions.

1. seeing as wood isn't the best for compressing I was curious if the woods actual purpose was to absorb the compression or just act as a spacer?

2. If the wood is just a spacer does anyone, does any have any experience with s2's to know what is actually taking the compression load?

3. When replacing the wood, what is the best thing to replace it with? Epoxy?


Thanks for the help everyone, now I need some aspirin for my headache