DEARBORN, Michigan — The Ford Motor Company is moving closer to release of the Mustang FR500CJ Cobra Jet, a limited-edition racing car inspired by the original 1968 Cobra Jet Mustang.New video shows the car testing at Michigan's Milan Dragway. Ford also released a new image of the FR500CJ, which is essentially a factory-built NHRA-legal drag racer.Ford plans to build a limited run of 50 units in December, with deliveries in February 2009. Pricing is expected to start at $69,990.The FR500CJ will be fitted with a 400-horsepower version of the supercharged 5.4-liter V8 that powers the Shelby GT500, along with a six-speed manual gearbox, a drag-race wheel/tire combination and an NHRA Stock Eliminator cockpit.Inside Line says: Who knows Mustangs better than Ford? — Paul Lienert, Correspondent