ChemDraw: While trying to install ChemDraw/ChemOffice products on my Windows machine I got the following error.: Error 1935. An error occurred during the installation of assembly component

While trying to install ChemDraw/ChemOffice products on my Windows machine I got the following error. How can I fix this?

Error 1935. An error occurred during the installation of assembly component {AE56AAF5-F3C0-3D4B-8859-A1E50A3E27BF}. HRESULT: 0x80070BC9.

Please do the following to fix the 1935 error :

1. Move the downloaded installer (eg., cos2xx.exe) to your Desktop and create a new folder on your Desktop with the name COS2x 

2. Right-click the installer (cos2xx.exe) and select “Run as Administrator” from the context menu. 

3. The wizard asks you to point the folder where you need to place the extracted installer, select the browse button and point to the COS2xx folder and click the OK button.

4. After extraction close the wizard

5. Browse to the folder COS2xx\ThirdParty\Microsoft\ and run the vcredist_x86.exe file (if you have 32 bit Windows) vcredist_x86.exe as well as vcredist_x64.exe (if you have 64 bit Windows). 

6. During the installation you will get two options "Modify" and "Uninstall" please select "Uninstall" and then once again try step 5; 

7. After completion restart the machine and try the installation.