Issues combining 2 formulas


I have the following columns: Expected Budget, Director Approval, VP Approval, Approved Projects.

The conditions being, if Expected Budget is less than $10000, only director approval required, if more than $10000, both director and VP approval is required.

On the Approved Projects, I would like to show if the project is finally approved to proceed base on the condition above.

I have worked out the formula separately and it works:

1) =IF(AND([Expected Budget]@row < 10000, ([Director approval]@row = "Approved")), "Approved", "Declined")

(as appear in row 1 in picture below)

2) =IF(AND([Expected Budget]@row >= 10000, [Director approval]@row = "Approved", [VP approval]@row = "Approved"), "Approved", "Declined")

(as appear in row 2 in picture below)

But I am unable to combine them. (as appear in row 3 in picture below)

And if possible, I also would like to add another rule: If approval is needed and "submitted" is shown, display "waiting for approval"

Appreciate assistance.

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