Easy and all done inside itunes program. No downloading any software and no limitations. Convert to mp3 or Wav. Done on version 22.214.171.124.
Step 1: Here Is How
Find the song in your library and select it.
Step 2: Preferences
On the tool bar select Edit and then at the bottom Preferences.
Step 3: 3
Select General and then click on Import Settings.
Step 4: 4
When the window is open select the first drop down menu and select either mp3 or wav.
Then click OK.
Step 5: 5
Then go back to ur music
Right click on the music you want to convert.
Select Create mp3 version.
It will do it in about 5 seconds.
Step 6: 6
And there it is.
The second one down.