Register replacement drone?

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I just received a replacement P4P. So the serial number is obviously different.

Since I had registered my old one under Part 107, it has the serial number.

Is it correct to assume I need to cancel the old drone and register this replacement anew?
 
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Yes, you can go to the FAA drone site and cancel the old drone reg, then pay for a new one under part 107.
 

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