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Pour cereal in a large bowl. MICROWAVE- In a 1 qt microwave-safe bowl combine chocolate chips, peanut butter and margerine. Microwave on high 1 to 1 1/2 minutes or until smooth, stirring after 1 minute. Stir in vanilla. STOVETOP- Put all except vanilla in a small saucepan over low heat, stirring often, until smooth. Remove from heat and stir in vanilla.
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