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Preheat the oven to 180°C (350°F). Grease and flour a cake pan.
In a saucepan over low heat, melt the butter and stir in cocoa powder until smooth. Remove from heat.
Add milk and condensed milk to the cocoa mixture, stirring to combine.
In a mixing bowl, sift together flour, baking powder, baking soda, and sugar.
Gradually add the wet ingredients to the dry, mixing gently until smooth and lump-free.
Pour the batter into the prepared cake pan.
Bake for 30-35 minutes, or until a toothpick inserted into the center comes out clean.
Let the cake cool before slicing and serving.
Serving and storage tips:
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