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Default Formula question

Here's my spreadsheet:

Column A Column B
N Red
N Blue
N Red
Orange
N Blue
Red
N Yellow

Here's what I'd like to accomplish:
If there's an "N" in column A, then count the number of times "Red" and
"Blue" appear in column B. If there is no "N" in column A, do not count it.
In the above example, I'd expect the formula to return a result of four.

Thanks for the help.
 
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