Is bullet drop present in far cry 4?

Is there bullet drop in far cry 4 ? I know arrows do drop but I can't find any information about bullet drop.
Also do bullets penetrate certain surfaces or they don't penetrate at all ?

I couldn't find any really compelling evidence but the consensus seems to be no bullet drop (except for the bow). A comment on this website also suggests it's not present.

There seems to be even less information on bullet penetration of the environment. However, I know you could shoot through the environment in far cry 2 and through people in far cry 3 so it seems likely there is some functionality for bullet penetration.

Bullet Drop: I asked a friend of mine who plays Far Cry 4 a LOT and he said that in his experience only the arrows seem to drop. Bullets do not have bullet drop in his experience.

Bullet Penetration: Far Cry does have bullet penetration in some weapons. I haven't found an exhautive list yet but so far I know that the Zastava M93 Black Arrow and the Gepard GM6 Lynx have penetrating rounds which ignore cover. You can see in the descriptions in the screenshots that it mentions that they can penetrate walls.

Zastava M93 Black Arrow .50 BMG

Gepard GM6 Lynx .50 BMG