Visual Studio 2013. You do not have sufficient privilege to access IIS web sites on your machine

Question

I just installed VS2013 and turned on IIS 7 on my Windows 7 Ultimate x64 machine. When trying to open a solution I get:

Creation of the virtual direct

Answer 1

Tried everything suggested, finally turned out we had to install IIS 10.0 Express with Application Compatibility Database installed by default

Screenshot:

Programs screenshot