Having this exact same problem, working on the fix now but I am assume it is because the older drive cannot read -R or -RW DVD's.
Is the disc you are trying to install with the original? A Burned copy? The one I am using is an Image on a DVD -RW and the computer is quite old also and wont read the disc. I am going to hook up an external DVD drive and see if it can read it. If your having the same problem, look into either getting an external DVD drive or make an image of the disc onto a DVD +RW if you know how.
Hope this tip helped you, I will post back with an update shortly as I am using my other disc (a +RW) in another drive..
But I noticed the laptop I am trying to install windows on does not even see the -RW disc's in windows... Anyways, updates shortly!