TFS 2008: “Error 28940. TFServerStatusValidator” during installation.

When you install Team Foundation Server 2008 + SP1 (Slipstreamed), the installation might fail with an error given below Error 28940.TFServerStatusValidator: Calling the Team Foundation Server ServerStatus Web service failed with 503 HTTP ServiceUnavailable status. Verify that Internet Information Services, Windows SharePoint Services, and ASP.NET are configured correctly and that ASP. NET v2.0 Web Service…

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