1. **State the problem:** We need to find the cash conversion cycle (CCC) for Laserscope given the inventory conversion period, receivables conversion period, and payables deferral period. 2. **Formula:** The cash conversion cycle is calculated as: $$\text{CCC} = \text{Inventory Conversion Period} + \text{Receivables Conversion Period} - \text{Payables Deferral Period}$$ 3. **Given values:** - Inventory Conversion Period = 45 days - Receivables Conversion Period = 42 days - Payables Deferral Period = 51 days 4. **Calculate CCC:** $$\text{CCC} = 45 + 42 - 51 = 87 - 51 = 36 \text{ days}$$ 5. **Interpretation:** The cash conversion cycle is 36 days, meaning it takes 36 days from paying for inventory to collecting cash from sales. **Final answer:** 36 days