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Default IF formula

I am using an IF formula in a column (AM2 - AM133). Here is a sample
=IF(O58=1,"$1000.00",IF(O58=2,"$500.00",IF(O58=3," $250.00","$0.00")))

It works fine, but when I went to do a basic SUM on the column...it is not
letting. How do I get sum for column AM?
 
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