Light (and sound) intensity drop off with the square of the distance. To use the examples given, the intensity of an arc at 10' is 1/100 of the intensity at 1'. At 40', the distance under consideration by the OP, the intensity is 1/1600 of that at 1'.
In the real world, it can be a little more complex. When the environment is reflective, the intesity will drop off at a slower rate, sometimes significantly so. Welding inside aircraft is the example I've heard cited. Workers at the other end of the fuselage, normally far enough away to be safe, were injured by the reflections of the arc making their way to their unprotected eyes. That's an extreme case, but you get the idea.
What I deal with is placement of fire horn/strobes. Both the sound and light are affected by the room. A room full of upholstry, drapes, rugs, etc. may require a louder horn, or more of them, than a room with hard floor walls, ceiling and furniture. Distance matters, and so does reflectivity, for both sound and light.