How to use If then Else with String and Number object type

Hi Expert,

Need your advice!

I need to implement one condition @ report level, When Contract Type = “OWNED PROPERTY” then “Remaining Lease” = “$0” need to print.

Formula used for both columns as of now -

Contract Type =If(IsNull([Query 1].[Lease Number]); "OWNED PROPERTY" ;"LEASED PROPERTY")

Contract Type = “String”

Remaining Lease =Max([Query 1].[Remaining Lease Obligation])

Remaining Lease = “Number type”

I have created two variables (1) [# Contract Type] and used the same formula to use this variable for new condition @ report level and (2) as [# Remaning Lease] and used same formula.

Now, when I am trying to use below formula at column (Remaining Lease Obligation), I am not able to parse it.

=If([# Contract Type] = "OWNED PROPERTY";[# Remaning Lease] ="0";[# Remaning Lease])

Please suggest what formula need to use ?

Thanks

Sam