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HEAT oven to 350ºF.
COMBINE first 4 ingredients in large bowl. Mix orange juice, margarine, egg product and zest. Add to flour mixture; stir just until moistened. Stir in cranberries and nuts.
POUR into greased and floured 8x4-inch loaf pan.
BAKE 55 min. to 1 hour or until toothpick inserted in center comes out clean. Cool in pan 10 min.; remove from pan to wire rack. Cool completely.
MIX powdered sugar and water; drizzle over bread. Let stand until firm.