Timer 1 & PWM

I've been playing around with Timer1 to produce a PWM signal and looking on my scope I can see that it's generating a 50KHZ signal. It's bits of code I've been studying and playing around with to get a better understanding. Looking on the scope I can see that the PWM produces a duty of 0-100% at 50KHZ with a rise and fall time of <600.0ns with a Width of 9.2us and -witdh 10.80us
The bit I'm struggling with is how to adjust the frequency correctly
here is the code

#include "TimerOne.h"          // using Timer1 library from http://www.arduino.cc/playground/Code/Timer1
#include <LiquidCrystal_I2C.h> // I2C LCD display
#include  <Wire.h>
#include <TimedAction.h>
LiquidCrystal_I2C lcd(0x027, 2, 1, 0, 4, 5, 6, 7, 3, POSITIVE);  // Set the LCD I2C address
#define PWM_PIN 9                    // the output pin for the pwm
#define PWM_FULL 1023                // the actual value used by the Timer1 routines for 100% pwm duty cycle
#define PWM_MAX 100                  // the value for pwm duty cyle 0-100%
#define PWM_MIN 1                  // the value for pwm duty cyle 0-100%
#define PWM_START 1                // the value for pwm duty cyle 0-100%
#define PWM_INC 1                    //the value the increment to the pwm value for the ppt algorithm
#define ONE_SECOND 50000             //count for number of interrupt in 1 second on interrupt period of 20us
int pwm = 0;
unsigned int seconds = 0;             // seconds from timer routine
unsigned int prev_seconds = 0;        // seconds value from previous pass
unsigned int interrupt_counter = 0;    // counter for 20us interrrupt//pwm duty cycle 0-100%
void TimerService01();// This is for the read A/D and set pwm
TimedAction Timedact01 = TimedAction(200, TimerService01);// mS
//#####################################
//#  Start up and set up              #
//#####################################
void setup() {
  lcd.begin (16, 2); // for 12 X 2  LCD module
  lcd.setBacklightPin(3, POSITIVE); //set back light pin
  lcd.setBacklight(HIGH); //Turn the back light on the LCD
  Timer1.initialize(20);               // initialize timer1, and set a 20uS period
  Timer1.pwm(PWM_PIN, 0);              // setup pwm on pin 9, 0% duty cycle
  Timer1.attachInterrupt(callback);    // attaches callback() as a timer overflow interrupt
  Serial.begin(9600);                  // open the serial port at 38400 bps:
  pwm = PWM_START;                     //starting value for pwm
}
//#####################################
//# Main loop                         #
//#####################################
void loop() {
  Timedact01.check();//Call to read and set pwm

}
//#####################################
//# TimerService01 every 200Ms        #
//#####################################
void TimerService01() {// read pot and set pwm value
  int sensorValue = analogRead(A0);//read chanel A0
  pwm = map(sensorValue, 0, 1023, 0, 99); //map sensorvalue to pwm 0-100
  set_pwm_duty();       // set pwm duty cycle to pwm value
  // print out the value you read:
  lcd.setCursor(0, 0);
  lcd.print(sensorValue);
  lcd.setCursor(0, 1);
  lcd.print(pwm);
  lcd.print(" ");
}
//#####################################
//# Set the PWM output                #
//#####################################
void set_pwm_duty(void) {

  if (pwm > PWM_MAX) {          // check limits of PWM duty cyle and set to PWM_MAX
    pwm = PWM_MAX;
  }
  else if (pwm < PWM_MIN) {       // if pwm is less than PWM_MIN then set it to PWM_MIN
    pwm = PWM_MIN;
  }
  if (pwm < PWM_MAX) {
    Timer1.pwm(PWM_PIN, (PWM_FULL * (long)pwm / 100), 20); // use Timer1 routine to set pwm duty cycle at 20uS period
    //Timer1.pwm(PWM_PIN,(PWM_FULL * (long)pwm / 100));
  }
  else if (pwm == PWM_MAX) {        // if pwm set to 100% it will be on full but we have
    Timer1.pwm(PWM_PIN, (PWM_FULL - 1), 1000);         // keep switching so set duty cycle at 99.9% and slow down to 1000uS period
    //Timer1.pwm(PWM_PIN,(PWM_FULL - 1));
  }
}
//#####################################
//# interrupt routnie                 #
//#####################################
void callback()
{
  if (interrupt_counter++ > ONE_SECOND) {        //increment interrupt_counter until one second has passed
    interrupt_counter = 0;
    seconds++;                                   //then increment seconds counter
  }
}

I was wondering if some one with more knowledge of coding to have a quick look and explain how to work it out correctly.
I have altered these lines

#define ONE_SECOND 50000             //count for number of interrupt in 1 second on interrupt period of 20us
Timer1.initialize(20);               // initialize timer1, and set a 20uS period
Timer1.pwm(PWM_PIN, (PWM_FULL * (long)pwm / 100), 20); // use Timer1 routine to set pwm duty cycle at 20uS period

and managed to change it to 25KHZ, But I'd rather get a better understanding of it.

Am I correct in saying I think it produces 16bit PWM ?

The frequency depends on the prescaler divide factor, which is set by one of the fields in one of the
registers, and the frequency also depends on the MAX value programmed into the timer (how this
is done depends on the timer mode).

So for instance at a 16MHz system clock, with prescaler divide = 1, and MAX = 4999, the frequency
will be 3.2kHz (16e6 / (4999+1) / 1).

I am not familiar with how the Timer1 library takes a frequency and decides how to set the prescaler
and MAX, but you could look at the code, after all that's the point of being open-source.

Presume you can just call Timer1.initialize again for a different frequency? Or are you wanting
to module the frequency dynamically (in which case only some of the modes are useful - the
datasheet is the place to learn the ins-and-outs of all 16 modes for timer1)

BTW the rise and fall times of all digital outputs is a few nanoseconds. I presume you don't have
a fast 'scope to see that.

Thanks MarkT
I will get the data sheet printed off and have another read through it. I'm using a Rigol DS1052E scope.