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Default =IF(ISERROR) doesn't work

I have three conditional formats on a cell:

1. Cell value is less than 0 (it works)
2. Formula is =(B10="") (it works)
3. Formula is =IF(ISERROR) (doesn't work)

I've tried various combinations to get number 3 to work -
can someone suggest a fix?

Thanks,
Phil
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