Here is a very easy way to do this that I used before. Adjust the rectangle around the bullet:
Rectangle bulletRect = new Rectangle(bulletPosition.X, bulletPosition.Y, bulletText.Width, bulletText.Height);
The same goes for the enemy:
Rectangle enemyRect = new Rectangle(enemyPosition.X, enemyPosition.Y, enemyText.Width, enemyText.Height);
Then when testing collisions you can use:
if(bulletRect.Intersects(enemyRect)) {
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