It should rather be “up to 96kHz”. You can select different samplerates. Most people will use 44.1kHz (CD quality) or 48kHz (DAT quality).
And samplerate has nothing to do with mp3 compression,
what you’re thinking of is probably the bitrate of mp3 files,
which is a completely different thing.
You are thinking about kbps (kilobits per second). A MP3 is compressed with a bitrate (that tells how much data that is allowed to be stored for every second of uncompressed audio in the compressed file), this shall not be mixed up with the frequency kHz (kilohertz)