Error 1935 During NAV v5 Client Install

When installing NAV 5.1 on a workstation running Windows 7, I received the following error –

Error 1935.An error occurred during the installation of assembly component {98CB24AD-52FB-DB5F-A01F-C8B3B9A1E18E}.

HRESULT: 0x800736CC.

After some quick researching, this error relates to a missing assembly component.

To resolve the issue, install the Microsoft Visual C++ 2005 SP1 Redistributable pack. If you’re running on a 64-bit system, you’ll need to install both the 32-bit and 64-bit versions.

x86

x64

Thanks to KB953610 for pointing me in the right direction.