IF statement based on two cells, with OR/AND

[john_london]

Hi guys,

This is really getting on my nerves. I have two cells with the following choices:

T7
Risk Level:
High
Med
Low
Nominal

W7
Annual Spend Range:
<$200K
$200K-$500K
$500K-$2m
>$2m

What I want is a simple formula which does the following:
If
(Cell T7 = Nominal or Low)
AND
(Cell W7 = <$200K or $200-$500)
THEN “No”
ELSE “Yes”
It keeps giving me a #value error!!

Thanks in advance!!

John