Your WAV file must have a: 16 bit (sample size), 44.1 kHz or 96Khz (sample rate), & a 1411 kbps (bit rate).
To convert your file to the proper format in Audacity:
File - Import - Audio
Select the file you want to import.
Once the file is loaded, File - Export - Export as WAV
Change the file type to "WAV signed 16-bit PCM" or "WAV signed 24-bit PCM"
A Window will pop up to "Edit Metadata Tags" click Cancel