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In this Excel tips video, the presenter demonstrates how to quickly remove formulas while preserving the data. Using an example with companies' revenue, expenses, and net income, the process involves selecting the entire dataset, copying it, and then using the "Paste Special" option. In the dialog box, the presenter selects the "Values" option and confirms by clicking OK. This action pastes only the values, eliminating the formulas. Consequently, the formula bar displays only the value, confirming that the formulas have been removed while keeping the data intact.