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IF statements

=IF((i7="1st"),*.50,IF((i7="2nd"),*.25,IF((i7="3rd "),*.12,IF((i7="4th"),*.08,""))))

The goal is to take cell H7 and multiply by I7 if it shows "1st" by .50
(50%), "2nd" by .25 (25%), etc. and place the amount in J7. I think there is
a variable missing. Anyone have any thoughts?

Thanks

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