To find the elevation of base camp, we start at Helene's initial elevation of 27 feet above sea level and then account for her descent of 32 feet. We can set up the equation as follows:
\[ \text{Elevation at base camp} = \text{Initial elevation} - \text{Descent} \] \[ \text{Elevation at base camp} = 27 - 32 = -5 \]
This result means that base camp is 5 feet below sea level. Therefore, the correct answer is:
b. 5 feet below sea level.