I have following expression but giving me wrong output.Pls help me to solve it

=IF(E8="BA1",(T8/1.125)-((T8/1.125-164.8)/1.103))-260,(T8/1.125)-((T8/1.125-164.8)/1.103)

where T8=5220 AND E8="BA1"

and result should be =322.70
but it is giving me wrong output by making my expession like as follows

=IF(E8="BA1",(T8/1.125)-((T8/1.125-164.8)/1.103))-260*(T8/1.125)-((T8/1.125-164.8)/1.103)

pls help me to solve and also teach or explain me why it is converting like this ..
Thanks in advance