Splitting files and saving them?

I’m using WL Elements7. I want to split a gig tape into individual tracks and then save the audio in the that form. ie like a CD. But I want to save it to my PC so I can play it in ITunes or Media player. How do I do this?
I’ve just upgraded from WL LE7. Does anyone know what my £41 has bought me?

You can do this either by saving each individual selection or, if you are already in montage, render these files to disk. You can name the regions by using the marker tools.

Thanks for that. I had a nasty feeling that I was going to have to burn a disc and then rip it in order to achieve what I want.