The problem I have is that the bullet fires too far forward and I want it to fire further back.

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[PunRPC]
public void Fire(Vector3 position, Quaternion rotation, PhotonMessageInfo info)
{
float lag = (float)(PhotonNetwork.Time - info.SentServerTime);
GameObject bullet;

/** Use this if you want to fire one bullet at a time **/
bullet = Instantiate(Bala, position, Quaternion.identity) as GameObject;
bullet.GetComponent<Bullet>().InitializeBullet(photonView.Owner, (rotation * Vector3.forward), Mathf.Abs(lag));
}