Trying to update a formula for a royalty calculation field, we've added a new option this field needs to account for. 

1. Business Unit
2. Cover Type

I'm new to formuals and think (maybe) I setup a basic shell correctly. But it's giving me a syntex error - so now I'm hoping the experts here can help.

Here's what I did...

IF(
   AND(
       Business_Unit__c = '1',
       ISPICKVAL( Cover_Type__c ,'Hardcover'),(0/100),IF(ISPICKVAL( Cover_Type__c ,'Paperback'),(0/100)
       )

IF(
   AND(
       Business_Unit__c = '2',
       ISPICKVAL( Cover_Type__c ,'Hardcover'),(0/100),IF(ISPICKVAL( Cover_Type__c ,'Paperback'),(0/100)
       )

NULL))))

Thanks in advance for your help!!! 

We added a new product last week, and this one is a faster turn-around than the others in the catalog. There is a field that updates based off the date in another field to 8 months from that original date. This new product should only be 6 months. 
I thought I would use an IF for the publishing type field and then CONTAINS for the various publishing types, but since it's a picklist I dont think Contains with work with those. What is suggested to update only specific publishing types to 8mos and then another to 6mos all within the same formula. 
Thanks! 

Can I use a workflow and field update to replace a null phone number field with N/A? Something like this? IF (ISBLANK ( Phone__c ),N/A, Phone__c 
A ton of leads are coming over blank and trying to find a way to make it easier to manage this field. 

Trying to update a formula for a royalty calculation field, we've added a new option this field needs to account for. 

1. Business Unit
2. Cover Type

I'm new to formuals and think (maybe) I setup a basic shell correctly. But it's giving me a syntex error - so now I'm hoping the experts here can help.

Here's what I did...

IF(
   AND(
       Business_Unit__c = '1',
       ISPICKVAL( Cover_Type__c ,'Hardcover'),(0/100),IF(ISPICKVAL( Cover_Type__c ,'Paperback'),(0/100)
       )

IF(
   AND(
       Business_Unit__c = '2',
       ISPICKVAL( Cover_Type__c ,'Hardcover'),(0/100),IF(ISPICKVAL( Cover_Type__c ,'Paperback'),(0/100)
       )

NULL))))

Thanks in advance for your help!!! 

Can I use a workflow and field update to replace a null phone number field with N/A? Something like this? IF (ISBLANK ( Phone__c ),N/A, Phone__c 
A ton of leads are coming over blank and trying to find a way to make it easier to manage this field.