Cream sugar and butter together and beat until light and fluffy. Add eggs, one at a time, and beat well. Add flour. Beat in lemon extract and 7-Up.
Pour batter into well-greased and floured 12-cup fluted mold.
Bake at 325 degrees for 1-1-1/4 hours. Cool and dust with powdered sugar if desired.
Serves 16
Per serving: 416 calories; 19 g fat (11.3 g saturated fat; 41 percent calories from fat); 113 mg cholesterol; 198 mg sodium; 57.3 g carbohydrates