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Here’s a trace of the same signal looking at the carrier frequency. 5 v per cm
EDIT: 11:35 EST Just recalibrated the scope against a known 15 vdc source and still measure 14-15 vpp. The waveform has the same peak-peak value whether I use the AC or DC setting on the scope. I doubt the unit been “souped up” because it still had a realtor’s message on it when I got it from EBAY last week.