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Default Alternative for Vlookup output of #N/A if data not found?

Hello,

Is there an alternative for the Vlookup function output of #N/A when data is
not found? The reason I ask is because I need to use an If function based on
the Vlookup output if the data is not found such as =IF(K2="#N/A","SPARE",)
but the function does not recognize #N/A.

Thanks!
Jaret
 
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