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Level 1 - EIEVBEL
The answer to this puzzle is:
Words: BELIVE, LEVEE, LIEVE, BELIE, BILE, VIBE, VEIL, LIB, LEE, VIE, VEE, LEI
Bonus words:
BELIVE, LEVEE, LIEVE, BELIE, BILE, VIBE, VEIL, LIB, LEE, VIE, VEE, LEI