Uninstall your existing copy of iTunes. Delete any copies of the iTunesSetup.exe (or iTunes64Setup.exe) installer files from your downloads areas for your web browsers and download a fresh copy of the iTunes installer from the Apple website:
(The current build of the 22.214.171.124 installer was changed a few days ago, which fixed the bulk of the reports of MSVCR80.dll/R6034/APSDaemon.exe/Error-7/AMDS-could-not-start trouble ... but the build number on the installer was not changed. So we're trying to make sure you do the reinstall using a "new good" 126.96.36.199 installer instead of an "old bad".)
Does the install with the new copy of the installer go through properly? If so, does that clear up the error message?
If you still have the same error messages cropping up, then try the procedures from the following user tip: