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Final answer:
The Northwest Ordinance of 1787 was crucial for regulating the settlement and statehood admission process in the Northwest Territory.
Explanation:
The Northwest Ordinance of 1787 was significant because it established a plan for the settlement of the Northwest Territory and created a system for the admission of new states into the Union. It banned slavery in these new territories, guaranteed basic freedoms for settlers, and outlined the process for new lands to achieve statehood.
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