If your MasterLink has Version 2.0 software, you can make copies of any audio file in the "file pile" on the hard disk. You can then "cut up" the copy without changing the original. The Track Split feature allows you to divide a track at precise points. You can then take the segments and place them as elements in a playlist (they will play seamlessly with no space between them), and then, if you wish, use the Track Join feature to "glue" the elements back into a single, new track.