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From: Webster's Revised Unabridged Dictionary (1913)

 Mulct, v. t. [imp. & p. p. Mulcted; p. pr. & vb. n. Mulcting.]
 1. To punish for an offense or misdemeanor by imposing a fine or forfeiture, esp. a pecuniary fine; to fine.
 2. Hence, to deprive of; to withhold by way of punishment or discipline. [Obs.]