Preheat over to 350 degrees. Spray bundt pan with buttery crisco spray (be generous and get all the nooks and grannies). Take the 1/4 cup of sugar and sprinkle all over the pan (tube also).
Cream butter and sugar until light. Add eggs one at a time until blended. Put the vanilla and almond extract in and stir. Put the 2 3/4 cups of flour, baking power and the salt into a zip loc bag. Shake well to blend. Add to the creamed mixture slowly and beat until mixed together well. Dredge peaches with ¼ cup flour - fold into batter. Pour into pan and spread evenly around. Shake it a little to settle it. Put in oven to bake.