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Default Reducing Excel File Size

I have an excel file which consists of huge amount of formulas: right
and left, top and bottom. This file is linked to another file (input)
and based on this input, the data gets sorted in this huge file and
there are like million cells which consists of all the formulas. This
file size is currently 20 MB and it runs very slow every time i try to
open it or close it Is there a way to reduce this file size?

Thanks for your help

Swamy

 
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