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Default Two TRUE to one FALSE statement

Would like to create a formula that can return one of two true outcomes vs.
one false. For example:

if date2 (c2) < date1 (b2), then "early",
if date2 (c2) = date1 (b2), then "on time",
if date2 (c2) date2 (b2), or if %(d2)<1, then "late".

Can this be done? Any help greatly appreciated!
 
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