Holiday Rice Pudding

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   ["In large saucepan, combine milk,", "water and the 1/4 cup sugar; bring to a boil over high", "heat;", "stir in rice.", "Reduce heat; simmer, uncovered, about 30 to 35 minutes or until rice is tender and liquid is absorbed.", "Remove", "from", "heat; stir in butter and almond flavoring until", "well", "combined.", "Cool; whip cream; beat in 1 tablespoon", "sugar.", "Fold cream", "and", "almonds into pudding; cover and chill at least 2 hours before serving. Serve with raspberry jam or sauce."]

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