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Default Counting if a time is within a specified range

I have a list of times (part of which is included below). I want to be able
to count them if they fall between the times of 01:00 and 16:00 and ignore
them if they fall outside those times. I have tried COUNTIF but have got very
badly stuck. I would be very grateful for any help

20:26
10:15
23:24
1:45
15:23
15:57
5:01
14:18
 
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