In the formula you provided, \( y = -16t^2 + 40t - 5 \), the variable \( y \) represents the height above or below street level at time \( t \), where \( t \) is measured in seconds.
To determine how far below or above street level Luca's initial launching point is, we need to evaluate the function at \( t = 0 \):
\[ y(0) = -16(0)^2 + 40(0) - 5 \] \[ y(0) = -5 \]
This means that Luca’s initial launching point is 5 feet below street level.
Therefore, the correct response is:
5 feet below.