Wav PCM Audio Causing Crash

Platform: Windows 7

I’m trying to load and play a .wav file that is PCM, 16-bit data at 22050Hz.
The content is in the project and set to copy and I checked; it’s in the Content folder.

However, I keep getting an unhandled exception when trying to load like this:

SoundEffect sound = Content.Load<SoundEffect>("soundfile");

I also tried embedding the resource and using SoundEffect.FromStream(stream) but that also threw an exception (in this case, “not implemented”).

I also tried one of the .wav files that comes with Windows. Same result. Any ideas?