In the iTunes import settings, select "AIFF Encoder" as the encoder. Then right-click any file in the library and select "convert file" then right-click the new file in iTunes and select "show in finder". Right-click the file and select "Open with->Recycle". If the file is DRM protected (most recent files on iTunes are not), you have to burn it to a CD first, then import it (also with the AIFF encoder or via the finder).
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Professional Audio Engineer at Theater Bremen, Germany • Part Time Programmer