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Default How do I format a cell based on the contents of a different cell?

I have a column of values that can have one of four possible values in each
cell - let's say Red, Amber, Yellow or Green. If the cell has the text
"red" in it, I would like to set a fill color of red in the cell immediately
adjacent to the cell containing the actual word "red". I'm having a heck of
a time finding a way to do this. Anyone have any ideas?
 
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