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A database developer is tasked with optimizing a PL/SQL procedure that processes a large number of records from a table. The current implementation uses a cursor to fetch records one at a time and performs calculations within a loop. What is the most effective optimization technique the developer should implement to enhance the performance of this procedure?
Replace the cursor with a `BULK COLLECT` operation to fetch multiple records at once and use `FORALL` for DML operations.
Increase the size of the cursor to fetch more records in each iteration, thereby reducing the number of context switches.
Move all calculations outside the loop but continue using the cursor to fetch records one at a time for processing.
Utilize a temporary table to store intermediate results before processing them in the PL/SQL block.

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