If function nested with AND

You are missing a double quote:

Formula:

=IF(AND(K7="",O7=""),"",

  IF(AND(K7<>"",O7=""),"Needs Pricing",

  IF(AND(K7="",O7<>""),"Needs Quote",

  IF(AND(K7="",O7=""),"NoQuote NoPrice",

  IF(AND(K7<>"",O7<>"",L7<>""),"PO&Quoted&Priced",

  IF(COUNTIF(B7,"*CANCELLED*"),"CANCELLED",

  IF(COUNTIF(B7,"*duplicate*")+COUNTIF(AG7,"*duplicated*"),"DUPLICATE")))))))