A formula which will work out a Fee from a payment - based on a capped & collared structu

I want a formula that will provide the answer 16.9% of a value or £34.50, whichever is the greater, but never greater than £90. Is this possible - so if the value is £150 the answer is £34.50, if the value is £300 the answer is £50.70, if the value is £800 the answer is £90.

This is to automatically work out a clients fee from their payment - fee structure is 16.9%, but with a minimum of £34.50 - maximum of £90

Perfect - Many thanks