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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 update(self, **kwargs):
 """Custom update method to implement monitor parameter formatting."""

        if 'monitor' in kwargs:
            value = self._format_monitor_parameter(kwargs['monitor'])
            kwargs['monitor'] = value
        elif 'monitor' in self.__dict__:
            value = self._format_monitor_parameter(self.__dict__['monitor'])
            self.__dict__['monitor'] = value
        return super(Pool, self)._update(**kwargs)