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If this PRS-505 is three years old, I'd have serious concerns about the battery. Any 3 year old lithium ion battery is going to have lost a serious proportion of its original capacity.
The Kobo appears to have significant "issues" with its firmware at present. Other than price, is there any reason you're not considering other devices? There are many that are significantly better than either the Kobo or the PRS-505.
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