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Let all ingredients come to room temperature. Mix butter and shortening with wooden spoon. Beat in sugar then eggs. Sift together flour and baking powder. Beat in flour mixture in small amounts alternating with small amounts milk. Add in both flavorings and beat well. Place in greased and floured bundt/tube pan. place in cold oven and then turn oven to 325 degrees, bake for 1 to 1 1/2 hours.
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