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Default If then statement

I would like to set up an if then statement incorporating the language below:

If AK11 is <= 243.9 then it is grade M01
If AK11 is =244 but less than 313 then M02
If AK11 is =313 but less than 382 then M03
If AK11 is =382 but less than 451 then M04
If AK11 is =451 but less than 520 then M05

Is this possible. Pls advise.

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