[Tex/LaTex] PNG as a background

Question

Is it possible to use a PNG image as a background, but with selected opacity? It seems to me that standard solutions found here can not change opacity of PNG…

I assume, that in the following one of the flags should be near transparent (taken from Includegraphics: set image opacity):

\documentclass{article}
\usepackage{lipsum}

\usepackage{graphicx}
\usepackage{transparent}
\usepackage{eso-pic}

\begin{document}

\transparent{0.01}\includegraphics[width=0.5\textwidth]{it.png}
\medskip

\transparent{0.99}\includegraphics[width=0.5\textwidth]{it.png}

\end{document}

but the result is:

where it.png is

Answer 1

You just have to run pdflatex twice for the transparency to kick in for your original tex source. The package actually prints out a message to say that when you run it the first time.