Help writing a formula

Help writing a formula

I am trying to write an if formula to read deal type.  If the deal type is New Business, I want to calculate the commission automatically.  I keep getting a syntax error. I currently have the following formula.  Anyone know how to write it correctly to calculate?
If(${Deals.Type}=='New Business',(${Deals.Amount}*.075),(${Deals.Amount}*'0375))

Thanks for any help!