It depends on your planned listening conditions and your gear, but I strongly suggest going much lower (as low as 96kbps, or even lower) and perform some ABX te

It depends on your planned listening conditions and your gear, but I strongly suggest going much lower (as low as 96kbps, or even lower) and perform some ABX testing under slightly better conditions than what you're going to listen under. If the results are unsatisfactory, bump the bitrate up 16kbps and repeat. I bet you'll be surprised.