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Error 1923: QBFCService Could not be installed when installing QuickBooks Desktop

When attempting to install QuickBooks Desktop, the following error is displayed:

Error 1923: QBFCService Could Not Be Installed

There is another instance of the same year of QuickBooks desktop installed on the computer. For example, QuickBooks Premier 2016 and QuickBooks Enterprise 16.0.

How to fix it
To resolve the issue, perform a clean install.
KB ID# SLN42051
12/7/2016 8:27:09 AM
QYPPRDQBKSWS03 9138 Pro 2017 f9e198