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Default If then Statement for Excel Columns

Hello,

I'm not very proficient at Excel. Need some help. How would I go about making a if then statement for 2 rows.

I would like something like this.

"If dates in Column K is less than 01/08/2011 -- then Column E = Old else Column = New"

I have a bunch of dated forms and if its older then 01/08/2011 I need it to post Old or New if its newer then 01/08/2011.

Thanks!
 
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