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1. Add peanut butter and vanilla extract to medium mixing bowl. Set aside.
2. Add sugar, water and cocoa powder to saucepan. Bring to a boil over high heat.
3. Boil rapidly for one minute.
4. Pour sugar mixture over peanut butter. Stir to combine.
5. Pour into buttered 9 x 9-inch baking pan and allow to cool.
6. Cut into squares.
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