Grease a 10-inch tube pan well. Heat oven to 350 degrees F.
Cream butter and sugar until fluffy. Beat in flour, 1/2 cup at a time, with remaining
ingredients except coconut and nuts. Beat on low speed until mixture is well blended.
On medium speed, beat 2 minutes, scraping bowl as you beat. Stir in coconut and
nuts. Turn into prepared pan.
Bake 45 to 50 minutes or until golden brown.
Remove from oven; let stand 10 minutes.
Invert on cake rack; remove pan.
When fully cooled, dust with confectioners' sugar, if desired.