Earlier quoted context omitted.
Never mind IF, Excel now has LET and LAMBDA. There is an n-ary AND function also; the documentation doesn't mention whether it's short-circuiting or not, and it doesn't return the last value if they are all true, just a Boolean true.
I haven't had the opportunity to use excel for a problem that would require a lambda yet. But for those interested https://www.microsoft.com/en-us/research/blog/lambda-the-ult... My two examples were more of a "show a clear correspondence between the syntax of excel and lisp" for the "if someone knows basic excel, you can introduce them to lisp."
$(if $(filter foo.o,$(OBJS)),this,that)