Help please

[gavi]

Hello. I am going to use the Wavepad audio editing software to convert cassette tapes to a digital format. The final digital form must fulfill certain federal requirements, which are:

 

"At least 16bit/44KHz uncompressed WAV, same number of channels as original. Preferred 24bit/96KHz. Open compression codecs like FLAC and SHN are also acceptable."

 

I am not very technologically savvy, and hardly understand what those specifications mean, so can you simply tell me whether this software can fulfil those requirements? Thank you very much for your help.