Trying to figure out IF statements...

Trying to learn formulas and having syntax errors for the formula below:

IF(${Attendance.Medicaid Level} == 1, 61.49, IF(${Attendance.Medicaid Level} == 2, 76.86, 0))

Basically, if field Medicaid Level is 1 or 2, enter 61.49 or 76.86 respectively.

Any help would be greatly appreciated.