Could someone tell me?

"Extract Audio from CD" on the File menu in my Audition 2 for Windows.

OK, but I think when I used that program it didn't give me to many encoders to choose from.

Am I right?

Unfortunately I de-installed the program, but I can easily install it again. How do you set up the output format?

I checked this function in Cool Edit Pro 2.1 and it indeed does not offer any encoding options. The reason is that you're working in an audio editor. It is assumed that you want to perform edits upon the ripped data. After you're finished you can save the data as you would any other file.