Table of Contents`#REF!`

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The `#REF!` error means that your formula contains an invalid cell reference, which is usually caused by one of the following actions:

You deleted a cell to which the formula refers. You need to add the cell back in or adjust the formula reference.

You cut a cell and then pasted it in a cell used by the formula. You need to undo the cut and paste the cell elsewhere. (Note that it's okay to copy a cell and paste it on a cell used by the formula.)

Your formula references a nonexistent cell address, such as B0. This can happen if you cut or copy a formula that uses relative references and paste it in such a way that the invalid cell address is created. For example, suppose that your formula references cell B1. If you cut or copy the cell containing the formula and paste it one row higher, the reference to B1 becomes invalid because Excel can't move the cell reference up one row.