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Preheat oven to 300ºF.
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Lightly grease and flour a 10 inch Bundt pan.
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Cream shortening, butter and sugar until light and fluffy with an electric mixer
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(This will take a while).
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Add eggs one at a time, beating well after each addition.
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Beat in almond extract.
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In another bowl, combine baking powder and flour.
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Stir into creamed mixture alternately with the milk, starting and ending with flour. Pour batter into prepared pan.
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Bake in the preheated oven for 1 to 1 1/2 hours, or until a toothpick inserted into the center of the cake comes out clean.
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Allow cake to cool in pan for 10 minutes, then turn out onto a wire rack and cool completely.