Two IF Statements in One Cell Returning Incorrect Results

Hello,

I am trying to compare two columns, each with it's own condition and rank then for sorting later. Below is my statement:

=IF(B4<$B$2,IF(C4<$C$2,0,1))

The issue am having is that in some of the destination cells it gives me a "FALSE" result while in others, it outputs either "1" or "0", which is what I would like. I have tried modifying the statement after reading similar posts but I have been unsuccessful. I changed the reference cells to numbers, that didn't help ().

Any help is greatly appreciated!

P.S. I have attached a file