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Default Can't Find Project or Library

I have a line in a macro as follows:

Sheets("Chrono").[A1] = Format ((Timer() - Depart) / 3600 / 24, "hh:mm:ss")

When I try to run the macro I get the following error message:

Compile Error: Can't find project or library.

I have had this macro working on another computer, any ideas.

Thanks
Alec
 
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