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Default conditional formatting formula not working

Hello
In cell AC449 I have the following conditional formatting formula is
=IF($U$449<"","Maximun Discount 50%"). In plain english if cell u449 is
empty then nothing if cell u449 has any percent value in the cell , then
cell AC449 should say "Maximun Discount 50%" . My formula does not work
thanks in advance
 
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