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question about recording and copyright stuff

Question:
on the music missions trip i goto, as part of our testimony, we write songs describing what we went through. we then take these songs and record them and get them on a cd and have then copy-righted and stuff.
my grandmother died april 16, 2007 (same day as Vtech shooting), and for myself, i plan on singing "it is well (with my soul)" by horatio spafford.
now, the song is in "public domain" so does that mean i can use it without getting sued or anything? im sure i wont, but i wana double check, because we're sending our songs to a cd publishing company, thanks.
Answer:
Off to the Music Business forum.
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