There could be a lot of reasons why you're getting this error. It might be because 32 bit system tries to execute itself in a 64 bit system. To further check on this issue, you may refer to Steve01964 post through this link: http://answers.microsoft.com/en-us/windows/forum/all/the-application-is-unable-to-start-correctly/bbb9c037-77b3-4fae-93b9-ded70f7f9a17.
We also suggest updating your .Net framework.
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Thanks.