Converting (Decoding) MP3 to WAV
To convert MP3 to WAV, access the conversion panel by pressing F6 (or click the Conversions menu and click Convert MP3 to WAV.) A screen-capture of the conversion panel is shown below.
Next, click the MP3-to-WAV button and select the source file(s) to convert. Each converted file is created in the same directory as the source and is the same filename less the extension, which is changed to WAV.
Important Note: This option only works on true encoded-to-MPEG-format-specs MP3 files, not the lesser quality MP3 simulations created by a few applications.