Tricky anagram puzzle →[More:]
This is a multi-step puzzle.
I. Each word in the following list will donate two letters to the word below it and receive two letters from the word above it (it's circular; the last word on the list donates two letters to the first word.)
II. If the donated & received letters have been chosen wisely, then the results can be anagrammed back into another list of five seven-letter words.
III. Furthermore, the ten letters that were moved between words can be anagrammed into one additional ten-letter mystery word.
A complete solution consists of the new list of five seven-letter words, and the ten-letter mystery word. Have at it!
1. rancher
2. angular
3. preened
4. protect
5. calorie