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In this Excel tutorial, the presenter demonstrates how to quickly remove formulas while keeping the data. Using a sample dataset with revenue, expense, and net income values, the presenter explains that net income is calculated as revenue minus expense. To remove the formula but retain the net income value, the user needs to select the entire dataset, copy it, and then use the "Paste Special" option. In the "Paste Special" dialog, selecting "Values" and clicking OK will paste only the values, eliminating the formulas. After this process, the formula bar will display just the value, confirming that the formula has been removed.