1 cup butter or margarine, softened
2 cups sugar
3 eggs
1 teaspoon almond extract
2 cups all-purpose flour
1/2 teaspoon baking powder
1/2 teaspoon baking soda
1/4 teaspoon salt
1 cup sour cream
3/4 cup slivered almonds, divided
1 (12 ounce) jar apricot preserves, divided

In a mixing bowl, cream butter. Gradually beat in sugar until light and fluffy, about 5-7 minutes. Add eggs, one at a time, beating well after each addition. Stir in almond extract. Combine dry ingredients; add to the creamed mixture alternately with sour cream. Beat on low just until blended. Spread half of the batter in a greased and floured 12-cup fluted tube pan. Sprinkle with half of the almonds. Spread half of the preserves to within 1/2 in of the edges. Cover with remaining batter. Spoon remaining preserves over batter to within 1/2 in of edges. Sprinkle with remaining almonds. Bake at 350 degrees F for 55-60 minutes or until toothpick inserted near the center comes out clean. Cool in pan for 15 minutes. Carefully invert onto a serving platter.