Q: iTunes 12.1.1.4 won't launch on Windows 8.1 64 bit

I have a Dell laptop running Windows 8.1 64 bit. I recently let iTunes update to 12.1.1.4. Ever since I updated, iTunes will not start. When I go to the Windows Application Log, I find the following error:

Log Name:      Application

Source:        Application Error

Date:          2/25/2015 10:07:50 AM

Event ID:      1000

Task Category: (100)

Level:         Error

Keywords:      Classic

User:          N/A

Computer:      COMPUTER_NAME

Description:

Faulting application name: iTunes.exe, version: 12.1.1.4, time stamp: 0x54de1991

Faulting module name: KERNELBASE.dll, version: 6.3.9600.17415, time stamp: 0x54505737

Exception code: 0xc000041d

Fault offset: 0x0000000000008b9c

Faulting process id: 0x9c0

Faulting application start time: 0x01d051153175cf74

Faulting application path: C:\Program Files\iTunes\iTunes.exe

Faulting module path: C:\WINDOWS\system32\KERNELBASE.dll

Report Id: 71bf9801-bd08-11e4-8315-c4d987f53cd1

Faulting package full name:

Faulting package-relative application ID:

Event Xml:

<Event xmlns="http://schemas.microsoft.com/win/2004/08/events/event">

  <System>

    <Provider Name="Application Error" />

    <EventID Qualifiers="0">1000</EventID>

    <Level>2</Level>

    <Task>100</Task>

    <Keywords>0x80000000000000</Keywords>

    <TimeCreated SystemTime="2015-02-25T16:07:50.000000000Z" />

    <EventRecordID>130544</EventRecordID>

    <Channel>Application</Channel>

    <Computer>COMPUTER_NAME</Computer>

    <Security />

  </System>

  <EventData>

    <Data>iTunes.exe</Data>

    <Data>12.1.1.4</Data>

    <Data>54de1991</Data>

    <Data>KERNELBASE.dll</Data>

    <Data>6.3.9600.17415</Data>

    <Data>54505737</Data>

    <Data>c000041d</Data>

    <Data>0000000000008b9c</Data>

    <Data>9c0</Data>

    <Data>01d051153175cf74</Data>

    <Data>C:\Program Files\iTunes\iTunes.exe</Data>

    <Data>C:\WINDOWS\system32\KERNELBASE.dll</Data>

    <Data>71bf9801-bd08-11e4-8315-c4d987f53cd1</Data>

    <Data>

    </Data>

    <Data>

    </Data>

  </EventData>

</Event>

I have followed the directions for a complete removal and reinstallation of iTunes. Upon completion of the reinstallation the app will launch, but then after I reboot, the same error occurs. I have tried running in Windows 8 and Windows 7 compatibility mode, as well as Run As Administrator.

What else should I do?