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Here is a link tells and shows you how to do it http://www.nsftools.com/misc/TapeToCD.htm

you can do it in many ways!! the only way i no though is by getting a cd recorder and play the tape and let the dvd record! but there are many ways tht i do not no of but i no this is probs no help to you but i hope i helped a bit :D

Yes it is, you have to digitize it. All you need is an auxiliary cable and a free program called audacity.