Apple's new apple tv

I'm not the bright bulb on the xmas tree, so please be patient with me...

So i got a Mac mini. Using itunes. Music is apple lossless format. Send the music via wifi to a new apple tv. DAC is attach via optical to apple tv.

mini -> wifi -> new Apple TV -> toslink cable -> DAC -> stereo

Can I do 24-96? I'm assuming 24-192 is a no-go since 192 toslink jacks are not very common.
 
The specs might mention it somewhere for the apple tv.

Actual specs are light on the ground:

Ports and interfaces
HDMI2
Optical audio
10/100BASE-T Ethernet
Built-in IR receiver
Micro-USB (for service and support
...
Audio formats supported
HE-AAC (V1), AAC (16 to 320 Kbps), protected AAC (from iTunes Store), MP3 (16 to 320 Kbps), MP3 VBR, Audible (formats 2, 3, and 4), Apple Lossless, AIFF, and WAV; Dolby Digital 5.1 surround sound pass-through

dave