The structure of a stable decagonal quasicrystal with 0.4 nm periodicity, formed in a conventionally solidified alloy with composition Al71.6Ni23.7Fe4.7, was investigated by high-resolution electron microscopy. It was found that this decagonal phase is one of the best-ordered quasicrystals, without any detectable linear phason strain and with only weak random phason strain. The structure is interpreted as an aperiodic tiling of decagonal atom columns with a diameter of about 1.2 nm. The atomic arrangements in special local regions are discussed on the basis of computer simulations.