3/4 cup margarine
1 package (8 ounces) cream cheese
2 cups sugar
5 eggs
3/4 cup flour
3 1/2 teaspoons baking powder
1 1/2 teaspoons salt
2 teaspoons vanilla
3/4 cup milk

Preheat oven to 350 degrees.

In a bowl, cream margarine, cream cheese and sugar until light and fluffy.
Add eggs, one at a time, beating well after each addition, about 2 minutes for each egg.
Beat in combined dry ingredients, alternately with the milk and vanilla extract.
Pour into well greased and floured tube pan.

Bake for 1 hour or until tester inserted in center of cake comes away clean.

Let cool in pan on wire rack for 10 minutes.
Turn upon wire rack.
Let cool thoroughly before serving.

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