IIS Admin Service won’t start – error 87: The parameter is incorrect

Windows Server 2012. IIS admin service stopped – when try to start from Services.msc get the following error. Event log show two errors event 1000 and event 7023 (see below for details). Any suggestions would be greatly appreciated!

World wide publishing service (w3svc) is running fine.

"Windows could not start the IIS Admin Service on local computer.
Error 87: The parameter is incorrect".

Tried below without any luck:

1. Rebooting server
2. IISRESETs
3. net start iisadmin
4. PS> Start-Service iisadmin produces below error

PS C:\Windows\system32> Start-Service iisadmin Start-Service : Failed
to start service 'IIS Admin Service (iisadmin)'. At line:1 char:1
+ Start-Service iisadmin
+ ~~~~~~~~~~~~~~~~~~~~~~
+ CategoryInfo : OpenError: (System.ServiceProcess.ServiceController:ServiceController)
[Start-Service], ServiceCommandException
+ FullyQualifiedErrorId : StartServiceFailed,Microsoft.PowerShell.Commands.StartServiceCommand

Windows Event Viewer Errors:

Log Name:      Application
Source:        Application Error
Date:          7/25/2015 5:38:51 PM
Event ID:      1000
Task Category: (100)
Level:         Error
Keywords:      Classic
User:          N/A
Computer:      Web03.magna.global
Description:
Faulting application name: mmc.exe, version: 6.2.9200.16496, time stamp: 0x50ece2e8
Faulting module name: DUser.dll, version: 6.2.9200.16518, time stamp: 0x510ca23f
Exception code: 0xc000041d
Fault offset: 0x000000000000166d
Faulting process id: 0xbfc
Faulting application start time: 0x01d0c714b8ffc77f
Faulting application path: C:\Windows\system32\mmc.exe
Faulting module path: C:\Windows\system32\DUser.dll
Report Id: 89cbe2f8-3315-11e5-940f-005056bd737b
Faulting package full name: 
Faulting package-relative application ID: 
Event Xml:
<Event xmlns="http://schemas.microsoft.com/win/2004/08/events/event">
  <System>
    <Provider Name="Application Error" />
    <EventID Qualifiers="0">1000</EventID>
    <Level>2</Level>
    <Task>100</Task>
    <Keywords>0x80000000000000</Keywords>
    <TimeCreated SystemTime="2015-07-25T21:38:51.000000000Z" />
    <EventRecordID>18738</EventRecordID>
    <Channel>Application</Channel>
    <Computer>Web03.magna.global</Computer>
    <Security />
  </System>
  <EventData>
    <Data>mmc.exe</Data>
    <Data>6.2.9200.16496</Data>
    <Data>50ece2e8</Data>
    <Data>DUser.dll</Data>
    <Data>6.2.9200.16518</Data>
    <Data>510ca23f</Data>
    <Data>c000041d</Data>
    <Data>000000000000166d</Data>
    <Data>bfc</Data>
    <Data>01d0c714b8ffc77f</Data>
    <Data>C:\Windows\system32\mmc.exe</Data>
    <Data>C:\Windows\system32\DUser.dll</Data>
    <Data>89cbe2f8-3315-11e5-940f-005056bd737b</Data>
    <Data>
    </Data>
    <Data>
    </Data>
  </EventData>
</Event>

Log Name:      System
Source:        Service Control Manager
Date:          7/25/2015 5:55:49 PM
Event ID:      7023
Task Category: None
Level:         Error
Keywords:      Classic
User:          N/A
Computer:      Web03.magna.global
Description:
The IIS Admin Service service terminated with the following error: 
The parameter is incorrect.
Event Xml:
<Event xmlns="http://schemas.microsoft.com/win/2004/08/events/event">
  <System>
    <Provider Name="Service Control Manager" Guid="{555908d1-a6d7-4695-8e1e-26931d2012f4}" EventSourceName="Service Control Manager" />
    <EventID Qualifiers="49152">7023</EventID>
    <Version>0</Version>
    <Level>2</Level>
    <Task>0</Task>
    <Opcode>0</Opcode>
    <Keywords>0x8080000000000000</Keywords>
    <TimeCreated SystemTime="2015-07-25T21:55:49.498076700Z" />
    <EventRecordID>7926</EventRecordID>
    <Correlation />
    <Execution ProcessID="528" ThreadID="4760" />
    <Channel>System</Channel>
    <Computer>Web03.magna.global</Computer>
    <Security />
  </System>
  <EventData>
    <Data Name="param1">IIS Admin Service</Data>
    <Data Name="param2">%%87</Data>
    <Binary>490049005300410044004D0049004E000000</Binary>
  </EventData>
</Event>