I just installed vs 2010, followed by IIS in window 7. when building a website in .net framework 4.0 and convert this into application in IIS then its shows this error

If i remove the targetFramework="4.0" from web config file then it shows me a second error which is related to linq reference error

This all happening when i am using localhost to run my website but whenever i use just f5 in vs 2010 then its run perfectly.
When i want to attach my process with aspnet_wp.exe i don't find this process in my list.
I searched a lot of answers here. What am I missing.