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Default need Excel cell to show value, not formula

I have Excel 2003. I've entered concatenation formula, which is calculating
correctly, but the cell itself shows the formula, instead of the result. The
formula bar also shows the formula, which I expect. The only way I can see
the result is to open up the Function Argument window (click on fX in formula
bar).

Can anyone help me get the result to display in the cell itself? I've tried
simple replacement formulas (e.g., =D2), but still get same thing. Is there a
setting somewhere I'm missing?

 
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