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To extract the last name from a list of names in Excel using the TEXTAFTER function, follow these steps: 1. In the formula bar, start with the TEXTAFTER function. 2. Set the first argument as the cell containing the name. 3. For the second argument, specify the delimiter, which is a space (" "). 4. Use the instance number as -1 to get the last name. 5. Close the parenthesis and then copy the formula down to the other cells. This method allows you to efficiently retrieve last names from a list.