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Cool Edit Pro Not Able to Record from An EMU 0404 SOund Card

Greetings,
Any help would be great.
I have a EMU0404. I have Cool Edit Pro ver 2 installed. I can play sounds through the Cool Edit and via the computer. However, I can not record using the above. Cool edit does not Hear my inputs. (MIc, Playback, CD etc..)
I use Cool Edit at another studio and have no problems with it. This is a new install and..WOW!

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