Dissolve yeast in warm water in 2 1/2-quart bowl.
Add milk, sugar, salt, eggs, shortening and 2 cups flour.
Beat on low for 30 seconds, scraping bowl constantly.
Beat on medium speed for 2 minutes, scraping bowl occasionally.
Stir in remaining flour until smooth.
Cover and let rise until double, 50-60 minutes.
(Dough is ready when indentation remains when touched.) Turn dough onto floured surface; roll around lightly to coat with flour.
Gently roll dough 1/2-inch thick with a floured rolling pin.
Cut with floured doughnut cutter.
Cover and let rise until double, 30-40 minutes.
Heat vegetable oil in deep fryer to 350°.
Slide doughnuts into hot oil with wide spatula.
Turn doughnuts as they rise to the surface.
Fry until golden brown, about 1 minute on each side.
Remove carefully from oil (do not prick surface); drain.
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