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Default Count with multiple column criteria

I am trying to count the occurance of criteria in more than one column. A
simple example:
A B
1 Red Y
2 Red N
3 Red Y
4 Red N
5 Red N
6 Green Y
7 Green N

I would like to count the number of times column A ="Red" and the associated
cell in column B="Y". The result should be 2.

Thanks,
Joe M.
 
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