1. Place ham in a large stockpot; add cider and enough water to cover ham. Bring to a simmer; simmer 30 minutes. Discard cider mixture; cool ham for 20 minutes. Cover and chill ham 8 hours. Trim rind and most of fat, leaving a 1/4-inch layer of fat. Score outside of ham in a diamond pattern.
2. Combine juice, bourbon, sorghum, peppercorns, and bay leaf in a saucepan; bring to a boil. Reduce heat; simmer until reduced to 1 1/2 cups (about 35 minutes). Remove from heat; stir in salt.
3. Preheat oven to 350°.
4. Place ham on a rack coated with cooking spray. Pour 1 cup water into a shallow roasting pan; place rack in pan. Brush ham with juice mixture. Bake at 350° for 30 minutes. Reduce oven temperature to 300° (do not remove ham from oven); bake ham an additional 1 1/2 hours or until a thermometer registers 140°, brushing with juice mixture every 30 minutes. Let stand for 15 minutes before slicing.