04:00 Solution: The text states that the clock shows 3:45, but it's 15 minutes slow. Therefore, we add the 15 minutes to 3:45 to find the actual time. 3:45 + 15 minutes = 4:00. The actual time is 4:00, which is a quarter past the hour. So the correct time in HH:MM format is 04:00. "04" represents the hour (4 o'clock) and ":00" represents the minutes (0 minutes past the hour). Therefore, the final response is "04:00".