Preheat oven to 350°F. Spray a 9x5" pan with oil and line it with parchment paper.
In a large bowl, whisk together the sugars and oil. Add the eggs, vanilla, sour cream, and applesauce - mixing after each addition.
In a separate bowl, whisk together the flour, baking powder, baking soda, salt, and spices. Sift the dry ingredients into the wet ingredients and gently mix with a spatula until only a few flour streaks are visible.
Fold the shredded carrots into the batter until just combined.
Pour the batter into the prepared loaf pan and bake for 40-45 minutes (or until a toothpick inserted into the center comes out clean).
Let the bread cool in the pan for 10-20 minutes and then carefully transfer it to a cooling rack.
Cream Cheese Frosting
Beat the cream cheese and butter together until smooth, then mix in the powdered sugar.
Carrot Cake French Toast
Cut the carrot cake bread into 1-inch slices.
Beat the eggs and milk together in a medium-sized bowl.*
Heat a non-stick pan on low-medium heat and grease it lightly with butter.
Dunk carrot cake slices in the egg mixture so they're completely coated. (Don't coat them all at once! Dunk them in right before you cook them.)
Cook the slices for 1-2 minutes on each side until they're light tan.
Serve with a sprinkle of powdered sugar and a dollop of cream cheese frosting!
Notes
*For every 2-3 slices of french toast you'd like to make, mix together 2 eggs+2 tablespoons of milk.Store leftover carrot bread in an airtight container at room temperature for up to 3 days or wrapped tightly in the freezer for up to 1 month.The provided nutrition information is an estimate, the calorie accuracy is not guaranteed.