Error #40006013: Image format could not be recognized. Is this a valid JPEG, GIF, or PNG image?

The Problem
Image format could not be recognized. Is this a valid JPEG, GIF, or PNG image?

You have attempted to upload a file to an image folder, but that file could not be recognized as a valid image.

Solutions
  1. Only images in JPEG, GIF, and PNG format are supported. Save the image as a JPEG, GIF, or PNG image and re-try your upload.
  2. If the image is already a JPEG, GIF, or PNG image, then this error could be caused by a failed or incomplete upload. Re-try your upload and see if it is successful.
  3. If the error persists, please contact support.