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Default Formula based on another cell value

I want to run a loop that looks at a value in one cell, and then
enters one formula for one value, and another for a different value.

So if Cell B2="X" then
range("E2").value = "formula"
elseif Cell B2 = "Y" then
range("E2").value = "other formula

this would loop through all cells until it found an empty cell.

Any help is appreciated.

Brendon
 
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