Creating a conditional Field Calculation

I want to create a field calculation.

Field A "Category" is a text field
Field B "Retail Price" is a number field
Field C "Minimum Price" is a calculation field.

I want the calculation in Field C to change depending on the field contents of Field A.  Here are the condtions:

1) When Field A is "standard", Field C is 75% of Field B.
2) When Field A is "fixed", Field C is 100% of Field B
3) When Field A is "no reserve", Field C is 25% of Field B

How do I write the calculation in Field C to meet these 3 conditions?
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it could be simpler to just answer your question, but I have anticipated the next 2 questions as well:
- what if the user want to create a new category himself, shall I redefine the price calc method everytime?
- what if I change the price, will it affect former prices?
this allows the user to define item prices and new categories himself.
if you want to update an existing price to take the new price into account, simply re-select the item in the popup lits and it will update the related price, same stuff for the category.

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jarrodpriceAuthor Commented:
Thanks. Thats Great
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