As Martin said, the only thing that doesn’t look right is that you’ve selected “Multiple” under “Channels” when you only need a Single channel (“Stereo Out”).
Otherwise your export settings look fine.
It might be worth noting that an MP3 file @ 128kB/s is considered low quality by today’s standards. I do not export anything to MP3 unless I am forced to due to audible compression artifacts. Especially on data rates below 320kB/s.
If you are concerned about storage space, “flac” is a lossless codec that preserves the audio quality but gives you a bit smaller file size compared to WAV or AIFF.