Combine all ingredients in a large sauce pot. Bring slowly to a boil, stirring until sugar dissolves. Cook rapidly almost to gelling point, about 15 minutes. As mixture thickens, stir frequently to prevent sticking. Remove from heat. Skim foam if necessary. Ladle hot preserves into hot jars, leaving 1/4 inch head space. Adjust two-piece caps. Process 15 minutes in a boiling-water canner. Yields about 5 half-pints.
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