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Question about Skullder

So I just traded for a skullder, thinking it would be good for MFing but I look at it now and it says "2% better chance of getting magic items (based on character level)" which confuses me cause I thought it was 1.25% per level. Its also socketed with a perfect topaz and has a separate 24% magic find line. So did I buy messed up armor or what? I'm quite confused? Thanks.

-zac
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