Folklore

In Papa Carlo's room, there are clocks on each wall, and they all show incorrect time: the first clock is off by 2 minutes, the second by 3 minutes, the third by 4 minutes, and the fourth by 5 minutes. One day, as Papa Carlo was about to go out, he decided to find out the exact time and saw the following clock readings: 14:54, 14:57, 15:02, and 15:03. Help Papa Carlo determine the exact time.
The readings of the first and fourth clocks differ by 9 minutes. This means that one of them is off by 4 minutes, and the other by 5 minutes. Therefore, the correct time is either 14:59 or 14:58.

In the first case, the second clock is 2 minutes slow, and the third clock is 3 minutes fast. This does not contradict the conditions of the problem.

The second case is impossible, as the clock showing 14:57 is off by exactly 1 minute, which contradicts the conditions of the problem.