(format) הרחק is more literary than רחוק. The נמצא is optional. Literally it's "found", there are similar examples in other languages.
About נמצא? Someone said in another discussion that נמצא is used as a copula for location, it had never occurred to me before but I think it's right. In Hebrew, unlike English, some sentences don't have verbs. In English these sentences have a "be" verb, but the function of the "be" is grammatical. For example, equating nouns - "This woman is my friend", האישה הזאת היא חברה שלי. Attaching adjectives to nouns - "The table is round", השולחן (הוא) עגול. Or location - "The apple is on the table", התפוח על השולחן. Also time, "The concert is tomorrow" - הקונצרט (הוא) מחר. The pronoun הוא/היא in these sentences, sometimes obligartory and sometimes optional (and sometimes we are better off without it), is a copula. The "be" is the copula in English.
In location descriptions, we sometimes use verbs as copulas, although we don't have to. You could say זה הרחק מכאן. But you also have an option of using נמצא in the same function that "is" takes in English. Also, התפוח נמצא על השולחן. I know similar examples in German and in Russian that I'm studying, I can see that you are not learning them in Duolingo but if you know them you'll be able to see the similarities.
I am thinking more about every day conversational Hebrew when נמצא and רחוק or הוא / היא are usually dropped from the sentence.