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Differentiating between 0 and empty cell with VLOOKUP in Google Sheets

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I am trying to use VLOOKUP in this Google Sheet to convert percentage grades to a 1–8 grading scale. I would like to be able to differentiate between a score of 0 and an empty score but am having trouble making this work.

Here's the current formula I'm using: =IF(ISBLANK(VLOOKUP((C2/$C$6),'Grade Boundaries'!$A$3:$B$10,2,true)),"",VLOOKUP((C2/$C$6),'Grade Boundaries'!$A$3:$B$10,2,true))

Current behavior

The Adjusted column shows 1 whether the corresponding Raw value is 0 or blank.

Desired behavior

The Adjusted column should show 1 if the corresponding Raw value is 0, or N/A if the corresponding Raw value is blank.

I've tried looking at other suggestions here and using IF statements, but I seem to keep getting stuck with the fact that VLOOKUP doesn't appear to differentiate between a value of zero and an empty cell.

Link to example sheet


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