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Default Formula for inserting a $ amount in a Column if certain met

I'm looking for a formula to insert a fixed dollar amount in a column if
certain criteria are met. We have 3 price levels for services defined in a
spreadsheet by a single word e.g. premium ($80), standard ($70), economy
($50). The client would like a new column added to the report which shows the
appropriate price each time the service is used. Rather than have people
enter it manually I would like it to automatically populate the "Fee" column.

Any help is greatly appreciated.

Thanks
 
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