diff --git a/lib/Excel/Writer/XLSX/Package/Metadata.pm b/lib/Excel/Writer/XLSX/Package/Metadata.pm
index 563fcc77..aa27f424 100644
--- a/lib/Excel/Writer/XLSX/Package/Metadata.pm
+++ b/lib/Excel/Writer/XLSX/Package/Metadata.pm
@@ -355,7 +355,7 @@ sub _write_cell_metadata {
     $self->xml_start_tag( 'bk' );
 
     # Write the rc element.
-    $self->_write_rc(0);
+    $self->_write_rc(1, 0);
 
     $self->xml_end_tag( 'bk' );
     $self->xml_end_tag( 'cellMetadata' );
@@ -372,7 +372,11 @@ sub _write_value_metadata {
 
     my $self  = shift;
     my $count = $self->{_num_embedded_images};
+    my $type  = 1;
 
+    if ($self->{_has_dynamic_functions}) {
+        $type  = 2;
+    }
     my @attributes = ( 'count' => $count, );
 
     $self->xml_start_tag( 'valueMetadata', @attributes );
@@ -381,7 +385,7 @@ sub _write_value_metadata {
         $self->xml_start_tag( 'bk' );
 
         # Write the rc element.
-        $self->_write_rc( $i );
+        $self->_write_rc( $type, $i );
 
         $self->xml_end_tag( 'bk' );
     }
@@ -399,10 +403,11 @@ sub _write_value_metadata {
 sub _write_rc {
 
     my $self  = shift;
+    my $type  = shift;
     my $value = shift;
 
     my @attributes = (
-        't' => 1,
+        't' => $type,
         'v' => $value,
     );
 
diff --git a/t/regression/embed_image05.t b/t/regression/embed_image05.t
new file mode 100644
index 00000000..46f5437f
--- /dev/null
+++ b/t/regression/embed_image05.t
@@ -0,0 +1,71 @@
+###############################################################################
+#
+# Tests the output of Excel::Writer::XLSX against Excel generated files.
+#
+# Copyright 2000-2023, John McNamara, jmcnamara@cpan.org
+#
+# SPDX-License-Identifier: Artistic-1.0-Perl OR GPL-1.0-or-later
+#
+
+use lib 't/lib';
+use TestFunctions qw(_compare_xlsx_files _is_deep_diff);
+use strict;
+use warnings;
+
+use Test::More tests => 1;
+
+###############################################################################
+#
+# Tests setup.
+#
+my $filename     = 'embed_image05.xlsx';
+my $dir          = 't/regression/';
+my $got_filename = $dir . "ewx_$filename";
+my $exp_filename = $dir . 'xlsx_files/' . $filename;
+
+my $ignore_members  = [];
+my $ignore_elements = {};
+
+
+###############################################################################
+#
+# Test the creation of a simple Excel::Writer::XLSX file with image(s).
+#
+use Excel::Writer::XLSX;
+
+my $workbook  = Excel::Writer::XLSX->new( $got_filename );
+my $worksheet = $workbook->add_worksheet();
+
+$worksheet->write_dynamic_array_formula( 0, 0, 2, 0, '=LEN(B1:B3)', undef, 0 );
+
+$worksheet->embed_image( 8, 4, $dir . 'images/red.png' );
+
+$workbook->close();
+
+
+###############################################################################
+#
+# Compare the generated and existing Excel files.
+#
+
+my ( $got, $expected, $caption ) = _compare_xlsx_files(
+
+    $got_filename,
+    $exp_filename,
+    $ignore_members,
+    $ignore_elements,
+);
+
+_is_deep_diff( $got, $expected, $caption );
+
+
+###############################################################################
+#
+# Cleanup.
+#
+unlink $got_filename;
+
+__END__
+
+
+
diff --git a/t/regression/xlsx_files/embed_image05.xlsx b/t/regression/xlsx_files/embed_image05.xlsx
new file mode 100644
index 00000000..5430cdc4
Binary files /dev/null and b/t/regression/xlsx_files/embed_image05.xlsx differ