K4Mac downloads the ebook to your Mac. I don't know where it is stored though (under Windows it is My Documents\My Kindle Content).
Note that most Kindle ebooks have DRM (encryption) and each DRMed Kindle file is locked to one device. So your iPad and Mac ebook will be different files because of encryption.
Calibre can manage your DRMed ebooks, but there are also 3rd party Clibre plug-ins that will strip the DRM as part of the import process. See Apprentice Alf's Blog for more info on DRM issues.
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