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A Navision license file could not be found in C:\Program Fil

My client receives the following error when trying to connect to a local copy of their NAV database: A Navision license file could not be found in C:\Program Files\Microsoft Dynamics NAV\CSIDE Client," yet their license file exists in the directory specified. Please see attachment for screen shots.

Client is running NAV 5.0 (SP1), Jet Reports 2010, version 10.1.11048.0.

Thanks!

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