iTunes Component not Installed? Error -45075?

I am not tech savvy and have been deployed for a while so I haven't been able to access my iTunes, but when I did I needed to download the latest version of iTunes to connect my iPhone.

I downloaded the latest version of iTunes (v. 11.1.2) for my Windows 7 PC.

Once the download was complete I reopened iTunes and before it went through it's entire launch an error message popped up stating that: "A required iTunes component was not installed. Please repair or reinstall iTunes. (-45075)".

I reinstalled/repaired iTunes from the apple website and the same message has popped up. I have repeated this process 4 times now.

Can anyone help me with this problem?

Much appreciated! Thank you!

I have included a picture of the message.