Formula Check with three conditions

Here are my columns:

Budget Status Override - Yes/No checkbox

Manual Budget Status - Three options (On Target, At Risk, Underperforming)

Budget Calc: calculation column where I use will this formula in (single line output)

Logic:

If [Budget Status Override] is checked AND [Manual Budget Status] is set to "On Target" THEN set to "Green"

If [Budget Status Override] is checked AND [Manual Budget Status] is set to "At Risk" THEN set to "Yellow"

If [Budget Status Override] is checked AND [Manual Budget Status] is set to "Underperforming" THEN set to "Red"

My formula:

=IF(AND([Budget Status Override]=TRUE,[Manual Budget Status]="On Target"),"Green",IF(AND[Budget Status Override]=TRUE,[Manual Budget Status]="At Risk"),"Yellow",IF(AND[Budget Status Override]=TRUE,[Manual Budget Status]="Underperforming"),"Red")

The syntax is incorrect but I cant identify what is wrong with it