Ocean
That is not bit rate, that is Iframe rate. The standard recommendation is frame rate equal to the Iframe value, So there is one complete full frame every second.
Bit rate type I recommend VBR. Bit rate depends on frame rate, the size of the frame, the quality of the video, the complexity of the frame, the amount of motion... pick a number 8192, move up or down based on what you see for video quality.
