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In this Excel tutorial, the presenter demonstrates how to remove formulas while retaining the data. Using a dataset with revenue, expenses, and net income, the process involves selecting the entire dataset, copying it, and then using "Paste Special." In the Paste Special dialog box, selecting the "Values" option removes the formulas and pastes only the data. After clicking OK, the formula bar will show only the values, confirming that the formulas have been successfully removed.