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Unrecoverable Error when launching Dynamics POS 2.0

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I just installed Microsoft Dynamics POS 2.0 on a new computer running Windows 7.  When I try to launch the application, I get the following error message "An unrecoverable error occurred while attempting to start Microsoft Point of Sale.  The application must exit"  It is also looking for a device that does not exist - RMSMAGTEK21040109 which is a magnetic credit card reader.  How can I fix these things?  Thanks!

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