I am trying to create 2 formulas,

I can get this part to work =IF(Q:Q<=5000,Q:Q*I:I,I:I*5000)

but I can't phrase the first part so excel can understand what I am trying
to accomplish. This first condition (=If I:I is < than or than but not =
to 1) must be met before going any further.

1st formula:
IF I:I is < than or than but not = to 1, then IF(Q:Q<=5000,Q:Q*I:I,I:I*5000)

2nd formula:
IF I:I is not < or but = to 1, then IF(Q:Q<=5000,Q:Q*I:I,I:I*5000)