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Default Why does blank cell assume value = 1?

I have created a simple =product formula that calculates the value of one
cell multiplie by a certain value. i.e. =product(h10,.5) The formula works
fine, but when h10 refers to a blank cell, it assumes the value is 1. I want
it to assume nothing really, but in reality I want it to assume 0, rather
than 1.

Help?
 
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