Preheat oven to 350 degrees F. Grease and flour 9x13 inch pan. Put all ingredients except raisins, walnuts and powdered sugar or frosting in large bowl. Mix at low speed until well mixed, beat 3 minutes on high. Stir in raisins and nuts. Pour into pan and bake for 45-50 minutes or until done. When cool, sift powdered sugar on top of cake or frost with frosting of your choice. For cupcakes, bake 20-25 minutes at 375 degrees F.
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