if statement with vlookup

E

ek

dear all, hope can help me

=IF(VLOOKUP(A3,$E$4:$E$5,1,FALSE)=A3,"found", "not found"

why "not found" unable to display in the cell but only showing "n/a" if not found? if true, "found" is shown, false only show "n/a". why???
 

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