How do I resolve "HTTP Error 500.19 - Internal Server Error" on IIS7.0

Question

What causes this error, how can I fix it?

Detailed Error Information
Module IIS Web Core
Notification BeginRequest
Handler Not yet determined
Error Code 0x8007052e
Config Error Can not log on locally to C:\inetpub\wwwroot as user administrator with virtual directory password
Config File Unavailable (Config Isolation)
Requested URL http://192.168.0.3:80/
Physical Path C:\inetpub\wwwroot
Logon Method Not yet determined
Logon User Not yet determined

Config Source

<application path="/" applicationPool="PS-Extranet">
    <virtualDirectory path="/" physicalPath="%SystemDrive%\inetpub\wwwroot" userName="administrator" password="[enc:AesProvider:PrISRz2ggJH4bV46ktObfCSh91Y/yF9pAoLmH7eCnj0=:enc]" />
</application>

Answer 1

I had the same issue, but reason was different.

In my web.config there was a URL rewrite module rule and I haven’t installed URL rewrite module also. After I install url rewrite module this problem solved.