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Default Use first day of month formula in a drop down list

I'm using the formula =DATE(YEAR(B4),MONTH(B4),1) where cell B4 = Today()
and this works to give me the 1st day of the current month.

My question is:
How do I use this in a drop down list on a separate worksheet in the same
workbook? I have tried to name the cell containing the 'date' formula, but it
looks like Excel does not allow naming a cell with a formula. Each time I
name the cell (select the cell, click on the 'name box', type name, enter)
when I re-select the cell it hasn't changed the cell name. It defaults back
to the row/column name.

Thanks,
 
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