Use either tystream or tysplit mode. Tystream extracts the raw ty files and you can split them later using the Parse file button in TyTools or use the standalone tydemux utility to do the same thing. This will give you m2v (video) and m2a (audio) files. Tysplit mode extracts and splits on the fly. If you use multiplex mode then you'll need to demux the file in TMPGEnc to get your audio and video files. There are lots of free tools on the web for converting the audio file to a wav file. The audio is mpeg layer II so look for a utility that can convert this to whatever format you desire.
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