In a large mixing bowl, combine the first seven ingredients. Beat on low speed for 30 seconds; beat on medium for 4 minutes. Pour into a greased and floured 10-in. fluted tube pan. Bake at 350 degrees F for 50-55 minutes or until a wooden pick inserted near the center comes out clean. Cool in pan for 15 minutes before removing to a wire rack to cool completely. Serve with whipped cream if desired.