If Statement in If Error Help

[Limbic]

I'm pretty intermediate with excel and could use some help with a formula. Looking to use an IF statement within an IF error for calculating margin.

Current formula: =IFERROR((J2-K2)/J2, "")

J2=New sell price
K2=Current cost

I have a Current Sell Price setup in F2. What I am trying to do is:

IF J2 is blank then use F2 to calculate margin. All within a IF Error statement.

Any help with the proper formula for the IF statement would be greatly appreciated.

 

[etaf]

does this work

=IFERROR(IF(J2="",(F2-K2)/F2, (J2-K2)/J2),"")

 

[Limbic]

does this work

=IFERROR(IF(J2="",(F2-K2)/F2, (J2-K2)/J2),"")

YES! Thank you!

 

[etaf]

you are welcome