Unable to Start Debugging. The Silverlight Developer Runtime is Not Installed.

My development laptop physically damaged recently and I had to switch over to another temporary laptop. It took about a day for me to install all dev software including Visual Studio 2010, SQL Server 2008 and many other software. After all the installations are done, I created a test project using Visual Studio and confirmed everything is alright. Then I went to my work place and I tried debugging my project. To my surprise, it came with the following message:

I thought I had setup everything and wasn't sure what is the role of Silverlight in debugging my ASP.NET project, which doesn't use any Silverlight components. Moreover, I already had Silverlight installed. But the problem was, my version of Silverlight was 5.0 but my Visual Studio version was expecting Silverlight 4.0. All I had to do to resolve the error was, install Silverlight Developer Runtime. You can download Silverlight Developer Runtime and install on your computer to resolve this error.

Installation Error: A Newer Version of Silverlight is Already Installed

When I tried to install Silverlight, I received the following error: Unable to install Silverlight. A newer version of Silverlight is already installed. This was because my computer had Silverlight 5.0 installed when I tried to install Silverlight 4.0. All I had to do was, go to the "Add Remove Programs" and uninstall the Silverlight from there. After installing the newer version, I was able to install Silverlight 4.0 and resolve the debugging error in Visual Studio.