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Where will I find the newly created MP3 file when I use iTunes to convert my AAC iTunes Music library?
Will the MP3 convert copies be set apart from my iTunes library?
Question marked as
Typically they will end up in the same folder as the source files if your library is in the standard layout with the Keep... and Copy... options enabled. After the copies have been made you can right-click on one of them and use Show in Windows/File Explorer to access them.
tt2