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Best for MKV to MP4 lossless? (extract audio also)

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What is the best software to extract video and audio files from an mkv container and convert them to mp4/mp3/aac/etc. without loss of quality. My video has 8 audio tracks and I would like to end up with 9 files (1 video, 8 audio) I have been messing around with searches and various software but I cannot find the best way to make this happen. Need some experienced answers here. I appreciate the help. I’m shooting for file formats that are accepted by adobe encore.