Preheat oven to 375 degrees. Sift dry ingredients into medium-sized bowl. In a separate bowl, beat margarine, Sweet-N-Low and egg until light and fluffy. Alternately add dry ingredients and applesauce, mixing well after each addition. Stir in raisins and cereal. Drop by rounded teaspoons onto non-stick cookie sheets. Bake 15 minutes, or until golden brown.
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