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Preheat oven to 350 degrees F. Coat a 9- x 13-inch baking dish with cooking spray.
In a large bowl with an electric mixer on low speed, beat cake mix, pudding mix, eggs, and oil until blended. Gradually add 1-1/4 cups cola. Increase mixer speed to medium and beat 2 minutes; pour batter into prepared baking dish.
Bake 30 to 35 minutes, or until a toothpick inserted in center comes out clean. Cool in pan on a wire rack 10 minutes.
In a large saucepan, combine butter, cocoa, and remaining cola; cook over medium heat until butter melts, stirring constantly. Do not allow to boil. Remove from heat; stir in confectioners’ sugar and vanilla, then the pecans.
Spread warm frosting over top of warm cake; cool completely on a wire rack.
Notes
This cake is also great made with cherry-flavored cola!
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