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Preheat oven to 350 degrees F.
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In a mixing bowl, combine eggs, 2 cups sugar, oil and 2 tsp coconut extract; mix well.
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Combine flour, baking powder and salt, add to egg mixture alternately with buttermilk just until moistened.
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Stir in coconut and pecans.
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Spoon into a well greased 10 inch tube pan.
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Bake for 60 to 70 minutes or until a toothpick inserted near the center comes out clean.
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Meanwhile, in a saucepan, combine the water, butter and remaining sugar.
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Bring to a boil; cook for 5 minutes.
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Remove from the heat; add remaining extract.
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Slowly pour hot syrup over hot cake.
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Cool in pan for 4 hours before removing to serving plate.
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Dust with confectioners sugar.