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Default Excel Calculation

I need a calculation to do the following; If the value entered is above
£49.99 I need it to show 6% of £39.99. If the value entered in the cell is
less than £49.99 I need it to show 6% of the value entered less £10.00.
i.e. if over £49.99 it would show £2.40
if the value was £44.99 I would need it show 6% of £34.99
How can I do this? Any help would be greatly appreciated
 
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