Step 1 :Let T be the position of the tourist, A be the position of boat A, and B be the position of boat B.
Step 2 :Let TA = x, TB = y, and AB = z.
Step 3 :Since the angle of depression of boat A is 40 degrees, we have \(\tan(40^\circ) = \frac{166}{x}\), so \(x = \frac{166}{\tan(40^\circ)}\).
Step 4 :Similarly, since the angle of depression of boat B is 34 degrees, we have \(\tan(34^\circ) = \frac{166}{y}\), so \(y = \frac{166}{\tan(34^\circ)}\).
Step 5 :Now, we can use the Law of Cosines on triangle ATB to find the distance between the two boats: \(z^2 = x^2 + y^2 - 2xy\cos(70^\circ)\).
Step 6 :Substitute the values of x and y: \(z^2 = \left(\frac{166}{\tan(40^\circ)}\right)^2 + \left(\frac{166}{\tan(34^\circ)}\right)^2 - 2\left(\frac{166}{\tan(40^\circ)}\right)\left(\frac{166}{\tan(34^\circ)}\right)\cos(70^\circ)\).
Step 7 :Calculate z: \(z = \sqrt{\left(\frac{166}{\tan(40^\circ)}\right)^2 + \left(\frac{166}{\tan(34^\circ)}\right)^2 - 2\left(\frac{166}{\tan(40^\circ)}\right)\left(\frac{166}{\tan(34^\circ)}\right)\cos(70^\circ)}\approx 402.6\).
Step 8 :\(\boxed{403}\) meters is the distance between the two boats to the nearest meter.