1.
The potential energy is defined as:

The change in potential energy is:

the initial height of the block/bullet is zero, then we have that:

Therefore, the change in potential energy is 0.8802 J
2.
We know that the energy is conserved, this means that the kinetic energy inmediately after collision has to be equal to the potential energy at the 7.15 cm heigh, then we have:
![\begin{gathered} (1)/(2)mv^2=0.8802 \\ (1)/(2)(1.25625)v^2=0.8802 \\ v=\sqrt[]{(2\cdot0.8802)/(1.25625)} \\ v=1.184 \end{gathered}](https://img.qammunity.org/2023/formulas/physics/college/5a2m6rpyuw85qbrfwdhdi2h8bq08i7vmiv.png)
Therefore, the velocity at this moment is 1.184 m/s
3.
From conservation of momentum we know that:

then:

Therefore the speed of the bullet is 237.98 m/s