Sweetbread

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1 1/2 cups grated coconut

1 cup sugar

1 1/2 ounces margarine

1/4 cup raisins

1/4 cherries

1/4 teaspoon salt

2 1/2 cups flour

1 package dry yeast

1 cup warm water

1 egg, gently beaten

Glaze:

4 tablespoons sugar

2 tablespoons water