Error, "Error 1926, could not set file security for file '...'. Error: 5", during installation (4227724)

When trying to install Toad for Data Analysts, I receive the following error:

Error 1926. Could not set file security for file 'C:\Program Files\Common Files\Quest Shared\'. Error: 5. Verify that you have sufficient privileges to modify the security permissions for this file.

The System account not having the Full Control permission on the hard disk drive where you want to install the application.

RESOLUTION 1: Disable Simple File Sharing if it is enabled.

1. Click Start, click Run, type Explorer.exe, and then click OK.
2. On the Tools menu, click Folder Options.
3. On the View tab, click to clear the Use simple file sharing (Recommended) check box, and then click OK.

RESOLUTION 2: Grant the System account the Full Control permission to the hard disk where you want to install Toad.

1. Click Start, click Run, type Compmgmt.msc, and then click OK.
2. Expand Storage, and then click Disk Management.
3. Under Volume, right-click the hard disk where you want to install the Quest product, and then click Properties.
4. On the Security tab, under Group or user names, click System, click to select the Allow check box for the Full Control permission, and then click OK.
5. Try to install Toad again.