Italian Cream Cake

Preheat oven to 325°F (170°C).

For cake: In the bowl of a stand mixer fitted with the paddle attachment, beat butter and granulated sugar at medium speed until light and fluffy, 3 to 4 minutes, stopping to scrape sides of bowl.

Add eggs, one at a time, beating well after each addition. Beat in extracts.

In a medium bowl, whisk together flour, salt, and baking powder. With mixer on low speed, gradually add flour mixture to butter mixture alternately with milk, beginning and ending with flour mixture, beating just until combined after each addition and stopping to scrape sides of bowl. Fold in pecans and coconut.

Spray a 10-cup fluted tube pan with baking spray with flour. Spread batter into prepared pan. Firmly tap pan on a kitchen towel-lined counter 7 to 10 times to settle batter and release any air bubbles.

Bake until a wooden pick inserted near center comes out clean and an instant-read thermometer inserted near center registers at least 205°F (96°C), 1 hour to 1 hour and 10 minutes. Let cool in pan for 10 minutes. Invert cake onto a wire rack, and let cool completely.

For glaze: In another medium bowl, whisk together all ingredients until smooth; spoon onto cooled cake. Garnish with toasted pecans and toasted coconut, if desired. Refrigerate in an airtight container for up to 3 days.