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Are the rear calipers ford disc brakes circa 1980's?
If you have the 80's style calipers on the rear like the kind out of a lincoln versailes or early vintage continental you must adjust the caliper piston by rotating it (it screws in and out, piston has threads) until it just causes a slight drag on the pads against the rotors. It's an odd system because of the parking brake. It would take a long time to get a pedal with a manual bleed if you do not adjustment first.
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