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Inner Text
Using the text tool type some text with a typeface of your choice.
  Now that you have your text, you can now right click on the text layer and select, "Blending Options...". Now click on "Inner Shadow".
  use settings at left
Do not click OK yet... still more to do
  Now click "Outer Glow".
  use settings at left
You may now click OK
The Results!!!
The below image is the final results.
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