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A typical vinyl LP has a bandwidth of about 18kHz (when it's brand new, it might get up to about 22kHz). There is certainly some audio stuff above that, but it generally bears no relation to meaningful programme material (ie. it's noise and distortion). So let's be generous and assume a bandwidth of 22kHz: you'll need to sample this at 44kHz. The dynamic range of a beautifully pressed LP on virgin vinyl can get to about 65-70dB on a good day with a following wind, which equates to slightly less than 12 bits. So the bit rate required is 44,000 x 12 x 2 (for stereo), giving about 1030kbs. A more typical LP (18kHz bandwidth, dynamic range of 55dB) needs a bit rate of about 650kbs. For comparison purposes, the CD bit rate is 1378kbs.
If you're unsure on what any of the terms mean I'd be happy to explain. Put simply, a typical vinyl might be equivalent to around 650kbps and a CD is double that.