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Default Convert time to running pace per mile

I am trying to define a forumla that will, based on the time (e.g. 20:32)
entered into one cell, will calculate the running "pace per mile" in another
cell automatically. An example would be:

If I ran 3 miles in 21 minutes that would equal a 7 minute mile pace.

or

If I ran 3 miles in 20:10 minutes that would equal a 6:46 minute mile pace.
 
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