How do you wipe a iPhone?

Get a Mac OS X install disk, insert it, open the file in the disk, and click "Reboot".

Then, when it loads, start the installation process and choose "Erase And Install".

when it finishes, reboot and it will take you to the setup wizard, where you can configure it like a new mac.

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http://www.macintosh-data-recovery.com/file-eraser.php