I need help using the right formula in this Excel sheet

I'm stuck on a problem, and I swear I'm not a lamer. Just understanding how this formula is solved opens a whole new world for me. Please help in comments if you can
-thanks :)

=IF CELL

C46 contains the following letters LB, TW, YO, RO, PB, PG, QR, QV, UO, MO, OY, MY. BU, then use this formula with the letter in the cell.
LB=(D46Z3) TW=(D46Z4) YO=(D46Z5) RO=(D46Z6) PB=(D46Z7) PG=(D46Z8) QR=(D46Z9) QV=(D46Z10) UO=(D46Z11) MO=(D46Z12) OY=(D46Z13) MY=(D46Z14) BU=(D46*Z15)

IF E46 contains the following letters LB, TW, YO, RO, PB, PG, QR, QV, UO, MO, OY, MY. BU, then use this formula with the letter in the cell.
(LB=(F46Z3) TW=(F46Z4) YO=(F46Z5) RO=(F46Z6) PB=(F46Z7) PG=(F46Z8) QR=(F46Z9) QV=(F46Z10) UO=(F46Z11) MO=(F46Z12) OY=(F46Z13) MY=(F46Z14) BU=(F46*Z15)

IF G46 contains the following letters LB, TW, YO, RO, PB, PG, QR, QV, UO, MO, OY, MY. BU, then use this formula with the letter in the cell.
LB=(H46Z3) TW=(H46Z4) YO=(H46Z5) RO=(H46Z6) PB=(H46Z7) PG=(H46Z8) QR=(H46Z9) QV=(H46Z10) UO=(H46Z11) MO=(H46Z12) OY=(H46Z13) MY=(H46Z14) BU=(H46*Z15)

IF I46 contains the following letters LB, TW, YO, RO, PB, PG, QR, QV, UO, MO, OY, MY. BU, then use this formula with the letter in the cell.
(LB=(J46Z3) TW=(J46Z4) YO=(J46Z5) RO=(J46Z6) PB=(J46Z7) PG=(J46Z8) QR=(J46Z9) QV=(J46Z10) UO=(J46Z11) MO=(J46Z12) OY=(J46Z13) MY=(J46Z14) BU=(J46*Z15)

SO then in cell
K46=
(C46 ANSWER)+(E46 ANSWER)+(G46 ANSWER)+(I46 ANSWER )+(V1)/0.7