Why does this formula default to a certain cell?

[Marq]

I have a formula that is defaulting to a value, which I do not understand why its doing that.

(I have a different post going on about this same worksheet but this is a different issue so Im giving it its own thread)

Here is the formula:

=IF($D$3="st",IF($D$4="Yes",$M$5,IF($D$4="No",$M$3,IF($D$4="PENDING",""))),IF($D$4="Yes",$M$6,IF($D$4="No",$M$4,IF($D$4="PENDING",""))))

If D3 is in "PENDING" and D4 has "NO" in its cell, the the cell with the formula should be blank....only when D3 and D4 have values other than PENDING should the formulated cell populate with a text.

Basically, if either D3 or D4 have "PENDING" in its cell...either both or one or the other, then the formulated cell should be blank.

But for some reason if D3 is "PENDING" and D4 is "NO", the formulated cell defaults to M4 when it should be blank.

 

[Fluff]

IMO opinion this is not a different question it's a straight duplicate of How to make this formula show "PENDING"?

Please do not post the same question multiple times. All clarifications, follow-ups, and bumps should be posted back to the original thread.
Per forum rules, posts of a duplicate nature will be locked or deleted (rule 12 here: Forum Rules).