Data validation list, how to populate/prefill value in the list? (first in the list?)

Hello all,

I've got dependent data validation list, a drop down shows values depending on other drop downs:
example:
=IF(B40="Transferred",$M$12,$L$12:$L$13)

If B40=Transferred, then show value in M12, else show list L12:L13.

This all works, but what I want to do is If B40=Transferred, Prefill value in M12 in stead of using drop down to select that single value in the list..

Is it possible?

Andy