Return a single text value if either option A or option B from drop down list is selected

Hi there!

Looking for help with a formula that will be able to return a single text value "Not Applicable" in Column 2 if either Option A or Option B is selected from a drop down list in Column 1?

I think I'll need to use the IF and CONTAINS function but not sure how I might be able to join these two together?

Thanks in advance!

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