I currently have a licensed copy of windows XP. But I have two computers. Can I activate the OS on both computers?

Better check with Microsoft on that one, but I dare guess the answer would be no. Here is the rule from MS on that usually, you can not have the same copy of windows on two computers at the same time without buying a septerate license, however if you have a retale copy you can install it on a replacement computer for one that has crashed.

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