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Taylor explains how to use keyboard shortcuts to apply the strikethrough effect in Microsoft PowerPoint. There are two methods to do this on a PC - using ribbon guide shortcuts or font dialog box shortcuts. The Alt+H4 shortcut is used for the ribbon guide method, which does not require holding down keys. Accessing the Home tab in PowerPoint allows users to apply the strikethrough effect without using the mouse. Additional cool text effects can be accessed through keyboard shortcuts in the font dialog box.