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This can definitely be used as a combo router/modem to get your internet, connect 2 computers, and it broadcasts wifi for your wifi devices. It works at over 800 MBPS for my son who has Xfinity at college so 40 MBPS is no problem. Only CenturyLink (or their customers that might have this unit) can tell you if it will work with their system - you should be able to search their website to see if this model is compatible.
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