Compressed audio format developed by the Moving Picture Experts Group; uses "Layer 3" audio compression; commonly used to store music files and audiobooks on a hard drive; may provide near-CD quality sound (stereo, 16-bit) in a file roughtly 1/10 the size of a .WAV or .AIF file.
The quality of an MP3 file depends largely on the bit rate used for compression; common bit rates are 128 kbps, 160 kbps, and 192 kbps; higher bit rates result in higher quality files that also require more disk space.
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