Lounge - Time it takes to send Xbits over 250(buad rate)

Can someone tell me how long it will take to send bits over a certain buad rate ? 


To be specific 

10Mbps
500Kbps
250Kbps
20Kbps

Here is a tranfer rate calculator.  The Bits per seconds (bps) is the baud rate and can be seen as the first input.

So, @250 bps /baud rate = 0.00025 Mb is transferred per second. So it would take 40000 seconds to transfer 10Mbps. 

Does it tally?

can you  elaborate a little more? what is the formula ? 


like let say i want to transfer 1byte(8bits) over 250k .. how long will that take ?