In Microsoft excel I'm working on a paper and having trouble with the IF function, the question I have to figure out is this:

I know how to do IF functions and have either True or False come back but now have trouble when it comes to questions like the one below

Thank you to whoever helps me with this I appreciate it.

In cell F27, use an IF function to calculate the discount amount for this order based on the

customer's status (which is found in F16). If the customer's status is Preferred, the discount amount will be the Order Subtotal ( 116.91 ) times the discount percentage 10% otherwise the discount amount will be 0 (zero). Hint: You will need to use a formula for the Value if True argument