Final Cut Express 1.0: "DV - NTSC 32 kHz" Easy Setup Uses 48 kHz Audio

The Easy Setup titled "DV - NTSC 32 kHz" mistakenly uses 48 kHz audio.
Symptom

32 kHz audio imported using the "DV - NTSC 32 kHz" Easy Setup needs to be converted to 48 kHz during playback

Solution

Update to Final Cut Express 1.0.1.
Published Date: Feb 18, 2012