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Default Formula Halp - If or Lookup

I am not sure how to get the results I am looking for, and if it is better to
use an if statement or a lookup funtcion (which I have never used before).

Data Information:
Column "AO" contains one of 5 names
Based on looking at these names, I want a formula that puts one of 5
corresponding intials in column BA.

Any formula suggestions would be truly appreciated!!
 
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