Angular 404 Error 'Not Found' makes no sense

The 404 error makes no sense; I can’t get past it. Here are snippets that should work, but instead give the 404 error:

 <div class="carousel-inner">
     <div class="item active">
         <img src="http://localhost:4200/src/app/photos/Monaco-and-Spirit.jpeg">

This should work. And even the VS Code editor helps me to complete the path so I know the path and filename are valid.

Can you advise. Thank you. - DmF