If the track is resampled to a high sample rate (for example 192000 Hz), then we can model that process using a few Nyquist commands in the Nyquist Prompt effect (http://manual.audacityteam.org/man/nyquist_prompt.html)
; first, bandpass the audio
(setf sig (highpass8 (lowpass8 *track* 8000) 100))
; then amplitude modulate.
; The carrier frequency must be substantially higer than
; the band limited signal.
; we're also adding a fixed gain of 8x
(setf am (mult sig 8.0 (hzosc 40000)))
; notch filter to remove carrier
(setf am (notch2 am 40000 20.0))
; ultra-steep low pass filter to remove upper side band
(dotimes (i 12)
(setf am (lowpass8 am 39900)))
; using a demodulation frequency 200 Hz higher
; than the original carrier, and
; low pass our band limited audio
; and add 2x gain
(lowpass8 (mult 2.0 am (hzosc 40200)) 8000)