Cubase 8 no mp3 export

Hi guys,
Bought the student version of Cubase 8 Pro and haven’t had any issues with running it on yosemite.

Recently I have had to export something as an MP3 file and in the audio mixdown dropbox it does not appear. There are other options, but not MP3.

I have read some other posts that recommend updating the e- licenser, which I have done but it still is not coming up.
Does anyone have any suggestions? its so frustrating!

Do I have to purchase any other software to export as MP3?

Help would be greatly appreciated.