Material Transparency Lost on Render

I have a node setup that I use to render fabric that has some transparency, like lace. It works very well. I can plug in a png and it puts color on the opaque areas and remains transparent elsewhere. I created a new png for a different fabric and it refuses to render transparency.

When the 3D view is set at Material, you can see it. When you render or 3D View Rendered, it’s gone. I can plug in one of my other png files and it works just fine, so it’s not the nodes.

I have attached an image of the Material view and Rendered view. I’ve also included the troubled png, if you want to try it.

This is very frustrating and I just can’t figure out what is wrong. Any suggestions?

Have you set RGBA as output file format, no jpegs ofc?

I finally figured it out. I was making the PNG with Photoshop (rather complicated process). It turns out that I needed an Invert node on my Transparent BSDF. Worked like a charm. Thank you eppo for your suggestion.