Images in DIVs and a small vertical space

It is trivial, yet I've forgotten. By default, images are inline elements, and are placed on the baseline. If one puts a DIV around it, it will include a small space below the baseline to accommodate letters extending below it. Here is a real-life example:

This cannot be fixed with a vertical-align on the IMG. Either set line-height in the DIV to zero, or the IMG should be rendered as a block element.