Red Velvet Cake

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Cake:

Butter, for greasing pans

2 1/2 cups all-purpose flour, plus more for dusting pans

2 teaspoons unsweetened cocoa powder 

1 teaspoon baking soda 

1 teaspoon salt 

2 cups granulated sugar 

2 large eggs 

1 3/4 cups vegetable oil 

1 cup buttermilk 

1 teaspoon vanilla extract 

One 2-ounce bottle red food coloring 

Cream Cheese Frosting:

One 8-ounce package cream cheese, at room temperature 

1/2 cup (1 stick) butter, at room temperature 

One 1-pound box confectioners' sugar 

Black food coloring, optional 

1 teaspoon vanilla extract 

1 cup pecans, finely chopped 

Yellow food coloring, optional