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Alaska's largest city lies between the Knik and Turnagain arms of Cook Inlet and the rugged Chugach Mountains. Anchorage, Alaska Gay Cruises. It is home to more than 240,000 residents, 40 percent of the state's population, and serves as the financial, communications and transportation hub of Alaska. Anchorage, Alaska Gay Cruises. The municipal boundaries stretch for more than 50 miles from Portage Glacier to the head of Cook Inlet and encompass 1,955 square miles. Anchorage, Alaska Gay Cruises.
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