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Default How do I insert a watermark in Excel containing the word "draft"

MS Word contains an ability to insert a text watermark (Format, Background,
Printed Watermark). Using this feature enables one to indicate (say) the
status of the document, eg, "draft".

I want to do the same thing in Excel, but seem to be able to only insert a
background graphic (Format, Sheet, Background) from my graphics folder. I
would prefer not to create a text graphic if I can.

Any suggestions?
 
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