[X-Newbies] Resampling in iTunes

[J]

Can anyone refresh me on how to resample a MP3 from 66MB down to 10MB  
in iTunes?

I used to do it when I had 600 MB stereo files from a CD recorder  
that I had to post but now I've forgotten since I directly record  
into the laptop using a program Audi Hijack Pro that does it with the  
sampling rate I want.

I usually record my radio show and each 55 mins is 9.5MB when done in  
24kbps and 22khz mono..

This file I would like to post is too big, it's about 40 minutes  
long, but I am having no success at reimporting it to the correct  
size and mono.


Thanks!

(PS - please send answers directly to my email -- I will look for  
them. For some reason, list messages get caught in my spam filter...  
thanks!)