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Default My formula displays just as it is, instead of calculating

I'm working with a spreadsheet that was passed to me, and I haven't created
it from scratch. I've added a column and created a simple formula that
simply displays in the cell instead of showing me the calculated result.
I've checked that automatic calculation is ON. The cell simply displays
=IF(D2=8,E2,"") instead of showing me the value of cell E2 or the empty
value. I've also tried various other formula; they all behave similarly.

I can't imagine what would cause the formula to display, almost like it's
being considered as a text string.....
 
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