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Default Import .txt files into XL with time fields-need to calculate

Importing a .txt file with time fields and number fields. I have 2 goals
1) Must conditionally format fields containing times outside a range of 5 mintes before or 5 minutes after a certain beginning or ending time
2) Must review multiple time entries for 1 person and have a formula grab the earliest time for one field and the latest time for another field. Must then apply the conditional format to these as well

Any ideas would be appreciated. Haven't been able to find anything in MS Help or other print resources.
 
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