Including Blob Image in BI Publisher Report (RTF) not working

Hi

In the BI Publisher RTF Template, when trying to include an image stored as a Blob, the server is not processing the code and displaying the image. Instead of displaying image, it is displaying whatever the code was, as following:

<fo:instream-foreign-object content-type=”image/jpg” height=”3 in” width=”2 in”>

<xsl:value-of-select=”K__PS_IMAGE_1”>

</fo:instream-foreign-object>

Here's the screenshot of rendered report:

What could be wrong with this?

This is the documentation URL I'm following:

Thanks for your help.

Bijay