Priority Rating with Formula Logic

New to smartsheets and the Formula and I am basically trying to set up a priority rating system. 

There are 4 priorities and 4 questions. If all questions are answered yes and the one checkbox is check then it gets a rating of P1 but if 2/3 questions are yes and the checkbox is checked then its p2 and so on and so on.

I am not sure if this can be done or not.

I have started by trying to get at least 1 priority to show with this logic

=IF(AND(Emergency1 = "1", Launch1 = "Yes", Escalated1 = "Yes", [CSAT -75%]1 = "Yes"), "P1")

But nothing populates the cell when the criteria is met. Any suggestions would be welcomed