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1. Combine all ingredients in a large punch bowl, allowing enough room to float a large chunk of ice. Garnish with sliced apples.
1. In a small saucepan, combine demerara sugar, apple cider, and cinnamon sticks. Bring to boiling; reduce heat. Simmer, uncovered, for 10 to 15 minutes, until reduced by half (about 3/4 cup). Cool to room temperature, then strain out cinnamon sticks.