Arduino atmega8 at 16 Mhz 1M baud and 250 Khz ADC

Hi,

Is it possible to set the arduino atmega8 running at 16 Mhz for 1M baud and 250 Khz ADC.Please let me know.

Then is ADSCRA =32?

Can the Arduino (atmega8) communicate data at 1 M baud) running ADC at 125 Khz or more at 16M CPU clock via the serial port?