Ranking Values Against Multiple Criteria

I have successfully been able to rank items using two criteria but I'm unsure of the syntax for adding a third or fourth set. I'm new to the use of Sumprodoct.

I have attached a file. Where column C and E have the same value, I want Excel to look at column F and assign a rank (formula is in column K) in ascending order.

ACEFK
ItemLife LeftTot CostBalRank
signs1 250 250 1
paint curb1 500 500 2
tree work1 2,500 2,500 3
landscape2 9,000 7,200 4
siding2 9,000 7,500 4

Here is my formula:

=IF(ISERROR(RANK(C8,C$5:C$105,1)+ SUMPRODUCT(--(C8=C$5:C$105),--(E8>E$5:E$105))),0,RANK(C8,C$5:C$105,1)+SUMPRODUCT(--(C8=C$5:C$105),--(E8>E$5:E$105)))

I've attached a file.