Just got our 2012 XP4 – has clunk in front suspension

We just got our new to us 2012 XP4 900 this weekend with only 390mi and 58hrs on the clock. It seems to be in great shape, with one exception:

We took it out to East Texas today to do some riding and the front suspension makes a hard "clunk" when going over sharp rocks. It almost feels like the shock is topping out and has zero rebound dampening. But the shock seems to have far too much travel for this to be the case. It is however a very sharp dead clunking like the front of the frame being smacked with a dead blow hammer. This even happens on baseball sized rocks going 10-15mph.

Has anyone else had this issue?