How to use Master Data Attribute of in Update Rule's Formula

Hi experts.
In update rule, there is an option to use Master Data Attribute of. However, due to user requirement, I need to use that in Formula instead.
Field to update:
Profit Center
Logic:
If Cost Center is empty
Then Profit Center
Else
Master Data Attribute of Cost Center
I use the following formula at the moment but it is not 100% correct.
IF( Cost Center = '', Profit Center, Cost Center )
Appreciate if anyone could help me out.
Thanks!

Hi,
The easier thing to do will be to use a Update Routine.
Logic will be as follows :-
If Cost center iss initial.
Result = Profit Center
else.
result = Cost center.
endif.
Regards
SM

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