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When replacing text with new text, you don’t have to use the Delete key. Instead, select the old text, and as you start to type, the old text will vanish.
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A quick way to toggle Print Preview: press Alt+Ctrl+I. Press it again (or Esc) to return to normal view.
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If you type something and then change your mind, press Ctrl+Backspace to delete a word at a time. And if you get overzealous, press Ctrl+Z to bring it all back.