Apple Nut Bread

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1/2 cup shredded carrots

1 1/3 cups applesauce

1/2 cup vegetable oil

1 teaspoon vanilla

2 eggs

3/4 cup granulated sugar

2 1/4 cups flour

1 teaspoon baking powder

1/2 teaspoon baking soda

1/2 teaspoon salt

1 1/3 teaspoons cinnamon

1/2 teaspoon nutmeg

1/2 cup walnut pieces