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Default LOOKUP formula

I have created an Excel Order form. After the Subtotal and Tax have been
calculated, I want the form to automatically put in the handling charges.
Formula works beautifully until I need it to return correct result for orders
above $300.
I would like every order that is over $300 to have handling charges equal to
7% of the order.
My formula is:
=LOOKUP(E39+E40,{0,10.01,25.01,40.01,55.01,70.01,8 5.01,100.01,150.01,200.01,300.01;3,5,6,7,8,9,10,11 ,13,14,IF(E39+E40300,(E39+E40)*7%}))

Can I place an IF statement within a LOOKUP? After the error, Excel
highlights the *7%.

Please help and Thanks in advance


 
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