How can I fix "you do not have permission to mount this file" error in Windows 8.1 Enterprise?

I receive this error whenever I attempt to mount a disc image (iso) under Windows 8.1 Enterprise using the right-click context menu. So far I have tried:

• run explorer elevated (couldn't make it happen)
• uninstall all other apps that may possibly mount iso (didn't help)
• take ownership of the file (also didn't help)

I am somewhat fundamentally confused; is this a permissions issue or a software conflict?

EDIT:

Oddly enough, the mount succeeds. The drive shows up. What in the world does the error mean then?

Solution 1:

This is usually an indication that the drive letter that it's attempting to mount the ISO to is not available. It then tries the next available drive letter. The message itself is misleading.

If you really want the message to go away, try changing the drive letters of any external drives or mapped drives you're using.