This is a somewhat rare problem with some CD-ROM and CD burner drives. They have problems reading the copy protection and will abort the installation at about 90% of the installation process.
Try installing Wavelab from another CD-ROM drive if you have one. If this doesn’t help, check with the manufacturer of the CD-ROM drive to see if there is a firmware update to temporarily disable error checking or correction. Most Plextor drives can disable this, but this depends on your CD-ROM drive.