Preparation -
In a large, heavy saucepan, combine all ingredients except the peanut butter. Mix well, then bring to a boil over medium heat, stirring constantly. Continue cooking, stirring constantly, until the mixture reaches the "soft ball stage". (At this point a tiny amount, when added to a glass of very cold water will form a soft ball.) If using a candy thermometer, the temperature should reach 235º. Remove from heat and add the peanut butter. Stir until well blended. Spread the fudge mixture in a buttered 8" square pan. Cool for 3 to 4 hours before cutting into squares. Store in an airtight container.