I don't think MC comes with that. I went looking for that one time to try something I saw in a discussion thread in Sonar......I think it's in the Sonar line of DAW's, not MC. The manual can be a bit tricky because I think they tend to use the same general one for everything because every one of their DAW's is similar with a lot of crossover features between them.
Hope that clarifies it.
On the flip side.... and in the free category, if you google search, you can find several MP3 converters that will do exactly what you want. Simply take the wave file, convert it to mp3 and then change the pitch and tempo as needed. It isn't prefect but it will get you to where you want.
Try this one in demo mode:
http://songgalaxy.com/software.php Everyone is charging for their stuff but it might be worth it to you, and some of these running in demo mode work well enough to use. This one used to be totally free but I'm sure they built in more features since the free version.