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Default How do I say "if this cell is blank, use this formula...

I'd like to set up a formula (function?) that says,
If this cell is blank, then use this formula.
If the same cell has data, then use this forumula.
But I just can't figure out how to do it. Any help would be great.
I know the two formula's I want to use, I just don't know how to direct the
cell to the right one.
 
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