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Solve the following problem using Python, implementing the functions described below, one line at a time
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Description:
 def html5_serialize_simple_color(simple_color):
 """ Apply the serialization algorithm for a simple color from section 2.4.6 of HTML5. """

    red, green, blue = simple_color

    # 1. Let result be a string consisting of a single "#" (U+0023)
    #    character.
    result = u'#'

    # 2. Convert the red, green, and blue components in turn to
    #    two-digit hexadecimal numbers using lowercase ASCII hex
    #    digits, zero-padding if necessary, and append these numbers
    #    to result, in the order red, green, blue.
    format_string = '{:02x}'
    result += format_string.format(red)
    result += format_string.format(green)
    result += format_string.format(blue)

    # 3. Return result, which will be a valid lowercase simple color.
    return result