Using Duowan's numbers at master level....

Bullets (PvE)

• Freeze Bullet: 633% magical damage. +158% damage on humanoid and beast foes.
  Freeze Bullet Upgrade: Uses 2 bullets per shot, damage +80/100/120/160/180%, freeze chance +50%? (might be 25%. Not sure).
• Blazing Bullet: 524% magical damage. +131% damage on plant, insect, and building foes. Max explosions: 2.
  Blazing Bullet Upgrade: Uses 2 bullets per shot, damage +80/100/120/160/180%, max explosions +1.
• I don't know how the anti-mob modifiers work. Blazing Bullet is stronger because it explodes on impact with a foe and when it hits a surface, so you can easily get two hits on any terrestrial foe by firing downward. The bullet will pierce it and hit the floor, exploding again for a second hit. I don't know if having more than 2 explosions is of any use on a single target.
• In practice, Fire Support 9 is the best chronicle set for aerial special bullet damage (no downtime on Aerial Fire!) and it heavily buffs Blazing Bullet.

Grenades (PvE)

• All fixed damage values are based on 1000 independent attack.
• G-14 Burst Grenade: 21186 damage. Explosion size: 329 px.
  Arsenal Reinforcement: I don't know exactly how it works, but since it says "1.13* damage," I guess it increases damage by 13% instead of causing an additional hit. 100% chance to inflict burn for 3 seconds. Burn damage: 7950.
• G-35L Flash Bang: 19640 magical damage. Explosion size: 333 px. 121.6% chance to inflict level 86 shock for 7 seconds. Shock damage: 4165.
• G18C Freeze Grenade: 32540 magical damage. Explosion size: 343 px. 140.3% chance to inflict level 86 freeze for 5.1 seconds.
• Like the other grenades, G-14 is also affected by Grenade Mastery, so it's not to be taken lightly. I think it still does neutral damage, so with a fire enchant, it can work really well if you're stacking fire damage for Blazing Bullet.