Exposing the Inactive field will automatically show a value of either Yes or No. Sometimes users would like it to be exposed as Y or N. Using a simple "case when" formula does give an accurate value as even if the value is Yes the resulting value of the formula field is N or the other way around.
The below formula may be used:
Case when LTRIM({isinactive},1)='T' then 'Y' else 'N' end
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