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Default excel 2003 formula

howdy. i hope you can help me with this simple formula.

cells A1 and B1 are time formatted. cell C1 is number formatted.

if cell A1 shows a time before noon and cell B1 shows a time after 1:00pm, i
want cell C1 to post .50. if either of these conditions is not met, i want
cell C1 to post 0.00.

how do i write the formula in cell C1?

thank for the assist.
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craig phila