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Spray large shallow roasting pan with cooking spray. Add popcorn and place in preheated 250F oven while preparing caramel.
Mix brown sugar, corn syrup, butter and salt in a heavy 2 quart saucepan. Stirring constantly, bring to a boil over medium heat. Boil 5 minutes without stirring. Remove from heat. Stir in baking soda and vanilla; mix well.
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