I do not easily understand much of the technical side of audio electronics so the Mutec is the most attractive option. Whether the investment is worth it is something I will have to decide. I addition, there is not agreement among others that the Mutec will even do it. There a two models, MC-1.2 and MC-3+USB. It is confusing because I did study the Mutec site and it said the USB was bi-directional. It looked like I could use one of the inputs (RCA or RCA with BNC adapter) for my CD player and the USB as an out to my DAC. From the Mutec site:
1 x Cinch input (coaxial) for S/P-DIF, 75 ohms terminated, unbalanced (MC-1.3)
1 x BNC input for S/P-DIF + AES3id, 75 ohms terminated, unbalanced (MC-3+ USB)
1 x USB2.0 interface, bi-directional usable (both models)
A member of another forum did not believe that the Mutec bi-directional USB would really work that way.
Since I use my CD player only ~10% of the time, I can always use it's internal DAC or use my old external DAC.
Thanks all for your help.