notes to consolidated financial statements ( continued ) march 31 , 2004 5 .income taxes ( continued ) the effective tax rate of zero differs from the statutory rate of 34% ( 34 % ) primarily due to the inability of the company to recognize deferred tax assets for its operating losses and tax credits .of the total valuation allowance , approximately $ 2400000 relates to stock option compensation deductions .the tax benefit associated with the stock option compensation deductions will be credited to equity when realized .6 .commitments and contingencies the company applies the disclosure provisions of fin no .45 , guarantor 2019s accounting and disclosure requirements for guarantees , including guarantees of indebtedness of others , and interpretation of fasb statements no .5 , 57 and 107 and rescission of fasb interpretation no .34 ( fin no .45 ) to its agreements that contain guarantee or indemnification clauses .these disclosure provisions expand those required by sfas no .5 , accounting for contingencies , by requiring that guarantors disclose certain types of guarantees , even if the likelihood of requiring the guarantor 2019s performance is remote .the following is a description of arrangements in which the company is a guarantor .product warranties 2013 the company routinely accrues for estimated future warranty costs on its product sales at the time of sale .the ab5000 and bvs products are subject to rigorous regulation and quality standards .while the company engages in extensive product quality programs and processes , including monitoring and evaluating the quality of component suppliers , its warranty obligation is affected by product failure rates .operating results could be adversely effected if the actual cost of product failures exceeds the estimated warranty provision .patent indemnifications 2013 in many sales transactions , the company indemnifies customers against possible claims of patent infringement caused by the company 2019s products .the indemnifications contained within sales contracts usually do not include limits on the claims .the company has never incurred any material costs to defend lawsuits or settle patent infringement claims related to sales transactions .under the provisions of fin no .45 , intellectual property indemnifications require disclosure only .as of march 31 , 2004 , the company had entered into leases for its facilities , including its primary operating facility in danvers , massachusetts , with terms through fiscal 2010 .the company has elected not to exercise a buyout option available under its primary lease that would have allowed for early termination in 2005 .total rent expense under these leases , included in the accompanying consolidated statements of operations , was approximately $ 856000 , $ 823000 and $ 821000 for the fiscal years ended march 31 , 2002 , 2003 and 2004 , respectively .during the fiscal year ended march 31 , 2000 , the company entered into 36-month operating leases totaling approximately $ 644000 for the lease of office furniture .these leases ended in fiscal year 2003 and at the company 2019s option the furniture was purchased .rental expense recorded for these leases during the fiscal years ended march 31 , 2002 and 2003 was approximately $ 215000 and $ 127000 respectively .during fiscal 2000 , the company entered into a 36-month capital lease for computer equipment and software for approximately $ 221000 .this lease ended in fiscal year 2003 and at the company 2019s option these assets were purchased .future minimum lease payments under all non-cancelable operating leases as of march 31 , 2004 are approximately as follows ( in thousands ) : .
[['year ending march 31,', 'operating leases'], ['2005', '$ 781'], ['2006', '776'], ['2007', '769'], ['2008', '772'], ['2009', '772'], ['thereafter', '708'], ['total future minimum lease payments', '$ 4578']]
from time-to-time , the company is involved in legal and administrative proceedings and claims of various types .while any litigation contains an element of uncertainty , management , in consultation with the company 2019s general counsel , presently believes that the outcome of each such other proceedings or claims which are pending or known to be threatened , or all of them combined , will not have a material adverse effect on the company. .

Question: what percentage of total future minimum lease payments are due after 2009?
Answer: 15%