IF Two Conditions Are True Output V1 or P1

Hi, sorry if the title is not descriptive enough.

I have F7 which is a list with two options "Virtual" and "Physical" I also have F10 which is a list with three options "Base" "Medium" and "Advanced".

For Cell I5
Within I5 if F7=Virtual and F10=Base then I need to output "V1". If they do not I need it to stay at 0 (or blank).
Within I5 if F7=Physical and F10=Base then I need to output "P1". If they do not I need it to stay at 0 (or blank).

For Cell I7
Within I7 if F7=Virtual and F10=Medium then I need to output "V1". If they do not I need it to stay at 0 (or blank).
Within I7 if F7=Physical and F10=Medium then I need to output "P1". If they do not I need it to stay at 0 (or blank).

For Cell I9
Within I9 if F7=Virtual and F10=Advanced then I need to output "V1". If they do not I need it to stay at 0 (or blank).
Within I9 if F7=Physical and F10=Advanced then I need to output "P1". If they do not I need it to stay at 0 (or blank).

I hope that is clear. I have been playing around with "IF', "AND" and "OR" statements, but can not get it to work.

Thank you in advance.

In I5
=IF(F10="Base",IF(F7="","",LEFT(F7,1)&1),"")

Change Base to Medium for I7 and Advanced for I9

Thank you nigelbloomy, that works perfectly.

I was half way there, but could not get the "" value, but see where I was going wrong now.

I will close the thread now.

Thank you Ron, that also works perfectly.