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In this video tutorial, the speaker outlines initial steps for completing the Chapter 4 capstone project focused on a retirement report in a personal finance course. The assignment involves collaborating with a partner to write a paper on different retirement plan options. The speaker emphasizes the importance of editing the draft report and utilizing review features to track contributions from each group member. Step two involves navigating to the review tab in the document and selecting "all markup," which displays all edits—deletions marked through, additions underlined, and any comments made. This allows for a comprehensive review of the document's changes.