Help IF Function with Multiple Conditions and Multiple Outcomes

Hi Folks

I am trying to create IF Formula that will look at Condition 1 and Condition 2 formula and give the desire outcome as if A="xxx" and B="yyy" then give "Capital", "Expense" or "PM" as the answer. is there a way to do it, my excel is attached here on this thread

Condition1 should always precede over Condition 2 and answer should be either "Capital", "Expense" or "PM"

Thanks

Chintu