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MIX flour, cereal, sugar, pecans and baking powder in large bowl. Add margarine, egg and vanilla; mix until crumbly. Reserve 1/2 cup of the crumb mixture; set aside.
PRESS remaining crumb mixture firmly onto bottom of greased 9-inch square baking pan. Spread strawberry preserves evenly over crust; sprinkle with reserved 1/2 cup crumb mixture.
BAKE at 375°F for 20 to 22 minutes or until golden brown. Cool completely in pan on wire rack. Cut into 18 bars.