You need an application like MediaMonkey.
Go to menu option Tools -> Rip audio CD
Click the Settings button below “Format: MP3”
For audio books you could use a preset like “Voice: ABR 56k mono”.
If you want stereo(assuming the audiobook really is stereo)choose “Use Manual Settings” and then ABR mode and 64 kbps which is enough for almost any audiobook(except ones with music which could benefit from higher bitrates)
