Final answer:
The message 'Your assignment is too late!' will be printed when the submission is made after the deadline and no extension has been granted.
Step-by-step explanation:
In the given code, the condition submission_time > deadline_time checks if the submission is made after the deadline. The condition not extension_granted checks if an extension has not been granted. If both conditions are true, the message 'Your assignment is too late!' will be printed.
For example, if the submission_time is 10:00 PM, the deadline_time is 9:00 PM, and the extension_granted is False, then the message 'Your assignment is too late!' will be printed.
Therefore, the values for submission_time, deadline_time, and extension_granted that would result in the message being printed are submission_time > deadline_time and not extension_granted.