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Default Substitute

Help! :) I am using a workbook where in sheet 3 I'm looking at sheet 2 to see
if a value exists "x" in a column -- if it exists, I want to replace that
value "x" with a value found in sheet 1 "4" -- I was able to create that
formula as follows:

=SUBSTITUTE(Master!E3,"x",'Curriculum Duration Estimates'!$D$5)

However, I also want to look for value "i" in sheet 2 and if it exists,
replace in sheet 3 value "i" with a value found in sheet 1 "1". I can't get
that formula to work, I tried:

=(SUBSTITUTE(Master!G3,"x",'Curriculum Duration
Estimates'!$E$7))*OR(SUBSTITUTE(Master!G3,"i",'Cur riculum Duration
Estimates'!$G$7))

Any ideas?
 
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