DXSETUP.exe – Bad Image Error when installing CorelDRAW

I am trying to install CorelDRAW software on my Windows 7 computer and get stacked with the “Please wait while we configure DirectX” window. Then it closes the installation process followed by the error messages below:
DXSETUP.exe – Bad Image
C:WindowsMicrosoft.NETFrameworkv2.0.5727mscorwks.dll is either not designed to run on Windows or it contains an error. Try installing the program again using the original installation media or contact your system administrator or the software vendor for support.
dxsetup.exe – .NET Framework Initialization Error
C:WindowsMicrosoft.NETFrameworkv2.0.50727 could not be loaded
Installation Wizard not complete
Your system has not been modified. To complete installation at another time, please run setup again.
Click Finish to exit the wizard.
I have contacted Corel Support, and they stated that this a DirectX issue with Windows 7 but I could not find any useful replies from them.
What should I do now?
How can I get this resolved?
