Yes, 44kHz/16-Bit = 1411 kbps.
I don't trust AirPlay. At least on MusicCast, it actually says "44kHz/16-bit".
I don't know about MP3. For MusicCast, the MP3 just reads 44kHz or 48kHz, but it doesn't say the Bitrate like "320 kbps" or "192 kbps" or the Sample Rate/Bit depth like "48 kHz /2 bit".
48 kHz/2 bit = 192 kbps (MP3 range is 96-320 kbps).