I'm trying to formulate a cell where the criteria is as follows;

=IF(A1+365+365-1)<01/01/07,"Asset Fully Depreciated","??/??/??")

A1 = Acquisition date...
and (A1+365+365-1 would arrive at 31Dec06 - implying a 2yr life for an asset)

So what I'm trying to say is that is the asset has expired after it's 2yr
life, then I want it to say "Asset fully depreciated", otherwise, I want it
give me the date at which 2 years expires.
Am I asking too much from excel?

Thanks,