Create a new wave file from an old wave file?

I’m sure cubase used to do this but cannot find the function

I have an audio take (say 2 mins long).
I have cut out the segment I want (say 15 seconds) and now I want to create a totally new wave file of that segment and replace the old cropped segment with the new one in the arrange page in exactly the same place…
can this still be done?

cheers!

Look for “Bounce Selection”

that did it… cheers my friend!