After installing IIS, I opened the Internet Information Services Manager under the Administrative Tools and examine the Web Service Extensions node. I was wondering how come it had an entry for ASP.NET v1.1.4322 with the Allowed status but no ASP.NET 2.0 even though .Net Framework 2.0 was already installed in this machine. Anyway, I asked Mr. Google and he pointed me to a number of websites. I tried one of the suggestions and it worked, i.e. run
C:WindowsMicrosoft.NetFrameworkv2.0.50727aspnet_regiis.exe -i
in a command prompt console to register ASP.NET 2.0 to IIS. Take note of the -i option and the version folder. After this, the Web Service Extensions node of the IIS will now have the ASP.NET v2.0.50727 entry with the status set to Allowed.