IF, OR, AND - Referencing a cell less than, greater than

Hi all,

First question here, please be kind as my stupidity is already well known to me!

I am trying to obtain a cell value of 4 different bands using the value of a cell either being less than or greater than the limit of each of those bands. I am trying to use the IF, AND, OR function but to no avail.

e.g

Band 1 - 0% (B4) = up to 12,570 (B5)
Band 2 - 20% (C4) = up to 50,270 (C5)
Band 3 - 40% (D4) = up to 150,000 (D5)
Band 4 - 45% (E4) = greater than 150,000 (D5)

Cell Value = 50,000 (B8)

If B8 is equal to or less than 12,570 display 0% (B4)
If B8 is greater than 12,570 but equal to or less than 50,270 display 20% (C4)
If B8 is greater than 50,270 but equal to or less than 150,000 display 40% (D4)
If B8 is greater than 150,000 display 45% (E4)

Result should = 20% (C4)

So far my attempt is:
=IF(or(and(b8<b5,"B4"),and(b8>b5,b8<c5,"C4"),and(b8>c5,b8<d5,"D4"),and(b8>d5,"E4"))))

As you can probably guess, that formula is not working!

I would really appreciate learning how to make this work. Is anyone able to explain what I am doing wrong?

Many thanks!

Use "lookup" table in A4:B7

0 0.00%
12571 20.00%
50271 40.00%
150001 45.00%

=VLOOKUP(B1,$A$4:$B$7,2,1)

b1=50000