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Default Formula not working, help

I am using conditional formatting featu Using the Formula is in the
conditonal formatting: =AND(M3:M5440,M3:M544<"Exempt") This is not working.
Want to highlight those cells that have 0 but do not want to highlight empty
or the cells that have the word exempt. Need some help. Have been trying to
get this answered for a few days now.
 
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