An application tells me I need .NET Framework 2.0.50727?
Use the Windows Features UI to install it.
- Open the Start Menu
- Type "Windows Features"
- Select Settings on the search pane
- Click on "Turn Windows Features On and Off"
- Find and click on .Net Framework 3.5 (includes .NET 2.0 and 3.0)
- Complete the install wizard (it will download the appropriate bits)
You can get the 32-bit installer here and the 64-bit installer here.
These will install 2.0 as well as 3.0, Windows 8 should already have 1.0 and 4.0 as well as 4.5 beta.