I had the same issue with iis 8.5. After searching the eventViewer under windows Logs-->applications, I realized that I'm having a permission error for the machine.config file of the .net framework located at "C:\Windows\Microsoft.NET\Framework64\v4.0.30319\Config\machine.config". Giving it a permission for IIS_IUSRS solved my problem (right click the file-->properties-->security-->edit-->add-->IIS_IUSRS)