With this version there are a list a extra updates that are required to be installed, I expect that you have them all in the same directory.
Because of the dependencies I put it all in a script, Also there is a reboot needed halfway, so this is imbedded in the script:

msiexec /i "%~dp0Client\Client.msi" DIRECTEXECUTE=1 INSTALLDIR="C:\Program Files\Microsoft Dynamics AX\40\Client" ADDLOCAL=Complete,Client,Config,License,GlobalHelp,Debugger,hENUS /qb!
msiexec /update "%~dp0Ax4ClientPatch30.msp" /qb!
msiexec /update "%~dp0Ax4SP2HFClientPatch30.msp" /qb!
REG ADD HKLM\Software\Microsoft\Windows\CurrentVersion\RunOnce /v Dynamics /t REG_SZ /d "msiexec /update \"\\file\location\Dynamics\Dynamics-DE-VAT2010.MSP\" /qb!"

Also you can incorporate the file association (what in a corporated environment seems natural)

ftype .axc="C:\Program Files\MicroSoft Dynamics AX\40\Client\Bin" "%1"