1. Measure Special K cereal; crush to 1 1/2 cups. Set aside. 2. Sift together flour, baking powder, soda and salt. Set aside. 3. Place margarine and sugar in large mixer bowl; beat until light and fluffy. Add eggs; beat well. Add sifted dry ingredients; mix until thoroughly combined. Stir in Special K and walnuts. Drop by level measuring-tablespoon onto lightly greased baking sheets. 4. Bake in moderate oven (350 degrees) about 15 minutes or until lightly browned. Remove immediately from baking sheets; cool on wire racks. Yield: about 5 dozen Walnut Chews, 2 1/2" in diameter.