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How to build a progress timer ?

Hi guys,
I would like to make a timer to count (in miliseconds and seconds) how long time take a process from start to end (the progress time). As display I want to use a Label or a TextBox, it doesn't matter. The issue is I would like to see the time permanently as long as the process is running, in a similar way with a chronometer, not only the time elapsed (final time - start time). Is it possible to have the result displayed in the following simplified format (only one decimal): 1.2 sec. , 33.7 sec, 1.3 min and so on ? Thank you in advance.

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