1,024 bits in a kilobit (Kb)

http://en.wikipedia.org/wiki/Kilobit It is a Kilobit

A kilobit of 210 bits = 1024 bits.

There are two (or three) schools of thought on this.

In base 2 (binary) there are 1024 bits in a kilobit, and 1024 kilobits in a megabit. So in that case you would divide by 1024 to convert kilobit to megabit.

Most often, especially in the media and common use of the public, you see base 10 (decimal) where 1 megabit = 1000 kilobit. This is not preferred, but its very common. In that case you would divide by 1000 to convert kilobit to megabit.

A Kilobyte - is just over 1,000 bytes.

Since computers work in multiples of 2, a Kilobyte is 1024 bytes.