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Default Date conversion question

Am trying to understand why is that when I have a variable MaxDate
(undeclared) and is has a value of 38697 and if I use
=TEXT(MaxDate,"mm/dd/yy") I get the correct value of 12/12/09 but if I
use function =CDATE(MaxDate) I get 12/11/2005 as an output? Also the
format command didn't work either to convert MaxDate with the code
=format(MaxDate, "mm/dd/yy") as it also gave 12/11/2005 when the
correct output was 12/12/09. I am trying to understand this.

Thanks,
Chet
 
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