If statement Issue

If statement Issue

I wrote this if statement in the Markup Qualified Formula Column

if(("Type" = 'PV' and "Markup" > 0.3999), 1, (if(("Type" = 'HEAT'  and "Markup" > 0.3999), 1, (if(("Type" = 'TANK'  and "Markup" > 0.3999), 1, (if(("Type" = 'EV' and "Markup" > 0.3999), 1, (if(("Type" = 'BATT' and "Markup" > 0.1999),1, 0)))))))))

I am trying to say: 

If (Type = PV or HEAT or TANK or EV)
and Markup is greater than .3999 
then 1

Else
If Type = BATT 
and Markup > .1999 then 1 
Else
0

However in the screenshot below it is not working. The Type is PV and the Markup is 20 so the Markup Qualified column should have a 0.





 I am trying to understand this behavior but I cant find any syntax guidelines that would explain what I am doing wrong.






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