Sift the flour, baking powder, salt, and sugar together into a medium bowl.
In the bowl of a stand mixer, beat the butter and extracts together. Add the dry ingredients slowly and scrape the bowl and beaters often. Add the milk and mix until the mixture is slightly wet, beating for approximately 2 minutes. Add in the eggs and egg yolk and beat for another minute.
Pour the batter into a lightly greased and floured pan. Bake for 1 hour and cool in the pan for about 15 minutes before turning it on a cake rack to cool before frosting.