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If you are going to do that, I'd suggest using a hole saw of the bi-metal variety, like a Starrett or Blu-Mol. Run it a low speed so as not to melt the lexan. You will still wind up with a burr edge at the exit side. To remove that, I'd suggest a burr remover like a Vargas Shaviv. They have a hooked high speed steel blade that will leave a finished edge. The shaviv's are cheap. So is the hole saw.
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