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problems with if function

I would like c1 to display b1/a1 if a1 and b1 not empty but would like c1 to
remain empty if nothing in a1 and b1

the following works but only if there is a value in a1 and b1.
=IF(AND(A1="", B1=""),"", B1/A1)

if a1 and b1 empty c1 shows hashkey value!

what am I doing wrong

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