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To extract the last name from a list of names using the TEXTAFTER function, start by selecting the cell containing the full name. Use the formula: `=TEXTAFTER(cell, " ", -1)`. In this formula, the first argument is the cell containing the name, while the second argument specifies the delimiter (in this case, a space). The "-1" in the third argument indicates that you want the last occurrence of the delimiter, which extracts the last name. Finally, copy this formula down into the adjacent cells to apply it to the entire list.