Magnet pull speed and distance

[Randoms]

Heya,

I am new to this forum and want to start with a tricky question...

There is a cylindrical neodymium magnet, d = 40mm, height = 5 mm, hole in the middle (also round shaped cylindrical) d = 10mm.
There is also a pure iron ball d = 12mm.
The ball is set on a non-magnetic stand at 500 meters height above the sea level. The magnet approaches the ball from the above in a way that their center of mass is on the same line as where gravity pulls them. There is no vacuum so normal air is around.

How should be the following calculated?
- Distance from where the actual magnet pulls up the ball
- Speed how ball gets faster once it is actually lifted by the magnet
- Time to impact

ASCII pictures (more or less):
Before:
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After:
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Cheers :)

 

[sunmaggot]

the analysis in this question is, find out the magnetization on the iron ball by the magnet, because if there is no magnetization, the iron ball should not get attracted by the magnet (attraction requires net magnetic moment). then find out the net force created by the non-constant B field (with respect to distance of the magnet and the iron ball) from the magnet.
No idea how to calculate this though.