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In this Excel tutorial, the presenter demonstrates how to quickly remove formulas while retaining the data. The example involves a dataset for companies, including revenue, expenses, and net income, which is calculated by subtracting expenses from revenue. To remove the formula while keeping the net income values, the user selects the entire dataset, copies it, then right-clicks and chooses 'Paste Special.' In the dialog box, selecting the 'Values' option allows pasting only the values without formulas. As a result, the formula is removed, and the formula bar now displays only the values.