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Default nested if statement returns #value error

I have a formula that returns a value based on the value of another
cell on the same worksheet. For example, cell D1 has a value of
97.00%. The formula is

=if(d1<.93999, 0, if(d1<.94999, .35, if(d1<.95999,.55,
if(d1<.96999,.75,if(d1=.97,.90,"")))))

The formula should return a value of .9 in the cell containing the
formula. I am getting the #Value error though and can't figure out
why. If I change the last if statement to read if(d1<=1 then the
formula returns the correct value. The syntax may be off slightly
because Excel is not correcting me but I think you have the idea. Any
ideas?

 
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