Note that transfer rates are quoted as binary values (i.e. 1 Mbps = 1024 Kbps). Also note the difference between the case of the "b" - "-bps" means bits per second and "-Bps" means Bytes per second. For data quantity, you may choose between binary (e.g. MiB) or decimal (e.g. MB) versions of units.
For reference, typical modem speed is 56 kbps and broadband connection may range from 128 kbps to 25 Mbps (although it is normally in the 1-5 Mbps range).