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This letter presents a new full duplex relay (FDR) system that features more efficient use of time resource and antennas. The proposed FDR system is constructed based on time and antenna-sharing and elimination of underlying interference. The underlying interference caused by time- and antenna-sharing is eliminated using precoding. We propose a design for the precoder and decoder, and investigate the achievable rate of the proposed FDR system when the precoder and decoder are applied. Simulation results show improved achievable rate and BER performances with the proposed FDR system compared to half duplex and conventional full duplex relay systems.