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The magnetization spectrum and reversal time of uniaxial single-domain ferromagnetic particles driven by an ac magnetic field of arbitrary strength applied along the easy axis are evaluated by solving the infinite hierarchy of recurrence equations for the Fourier components of the relaxation functions governing the frequency dependence of the magnetization. A simple analytic equation for the reversal time is also obtained via the mean first passage time method exhibiting pronounced nonlinear effects such as a rapid decrease in the reversal time as the strength of the ac field increases. For weak ac fields, the results agree with perturbation theory.