Baked Beans

1.Place the beans in a colander and rinse them well with cold water and allow to drain. Pick through the beans and remove and discard any debris. Place the beans in the Instant Pot and cover with 8 cups of cold water.
2.Lock the lid in place and slide the handle to "Sealing". Press the MANUAL button, select HIGH, and set the time to 25 minutes. At the end of the cooking time allow pressure to naturally release for 10 minutes then manually release any remaining pressure. Press “CANCEL” and open the lid, then transfer the cooked beans to a colander to drain.
3.Press the SAUTE button. When display reads “Hot” add the bacon. Cook, stirring, for about 5 minutes, or until the fat has been rendered and the bacon is crispy. Add the onion and bell pepper. Cook, stirring, for 2 to 3 minutes, or until onion and bell pepper are beginning to soften. Add garlic and cook for an additional minute. Press “CANCEL”.
4.Add the cooked beans, 1 cup of water, ketchup, brown sugar, molasses, Dijon, smoked paprika, salt, pepper, and bay leaf. Stir well. Lock the lid in place and move the lever to "Sealing" then press MANUAL, select HIGH, and set the time to 10 minutes. When time is up perform a quick release. Press "CANCEL" and unlock and remove the lid.
5.Give it a good stir and remove and discard the bay leaves then transfer to a serving platter and serve.