That LOGO is not the best, it's edges are all "scratchie" and there are lots of holes (white Pixels), If you can print it off in B&W and using a Black marker pen draw in the outlines. Then scan it in to the computer, this is often the quickest and simplist.
I opended the image in Paint replaced the Blue background with White relaced the Grey (nearly Black) image with Black, Saved the file. Imported it into MasterCAm, and saved....
This is the result