Excel Excel TABLE function

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I recently got handed an excel spreadsheet to troubleshoot that was created in '97. In it there is a group of cells defined by the {=TABLE(x,y)} but Excel (2010) does not recognize this function when I try to edit it. It calculates the table, but I cannot see how it calculates it.

I assume that this is an old function that got left out of newer versions of Excel. Any ideas how to see how this table is being calculated?
 

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