<p>Simple: <a href="local.html">Some <img src="/images/other.png" alt="alt text" /></a></p>

<p>Nested: <a href="local.html">Some <img src="/images/other.png" alt="alt ![img](text.png) text" /></a></p>

<p>Simple: <a href="local.html">Some <em>text <img src="/images/other.png" alt="alt text" /> text</em></a></p>