{"pre_text": ["american tower corporation and subsidiaries notes to consolidated financial statements 2014 ( continued ) basis step-up from corporate restructuring represents the tax effects of increasing the basis for tax purposes of certain of the company 2019s assets in conjunction with its spin-off from american radio systems corporation , its former parent company .", "at december 31 , 2003 , the company had net federal and state operating loss carryforwards available to reduce future taxable income of approximately $ 0.9 billion and $ 1.5 billion , respectively .", "if not utilized , the company 2019s net operating loss carryforwards expire as follows ( in thousands ) : ."], "post_text": ["sfas no .", "109 , 201caccounting for income taxes , 201d requires that companies record a valuation allowance when it is 201cmore likely than not that some portion or all of the deferred tax assets will not be realized . 201d at december 31 , 2003 , the company has provided a valuation allowance of approximately $ 156.7 million , primarily related to net state deferred tax assets , capital loss carryforwards and the lost tax benefit and costs associated with our tax refund claims .", "the company has not provided a valuation allowance for the remaining net deferred tax assets , primarily its tax refund claims and federal net operating loss carryforwards , as management believes the company will be successful with its tax refund claims and have sufficient time to realize these federal net operating loss carryforwards during the twenty-year tax carryforward period .", "the company intends to recover a portion of its deferred tax asset through its tax refund claims , related to certain federal net operating losses , filed during 2003 as part of a tax planning strategy implemented in 2002 .", "the recoverability of its remaining net deferred tax asset has been assessed utilizing stable state ( no growth ) projections based on its current operations .", "the projections show a significant decrease in depreciation and interest expense in the later years of the carryforward period as a result of a significant portion of its assets being fully depreciated during the first fifteen years of the carryforward period and debt repayments reducing interest expense .", "accordingly , the recoverability of the net deferred tax asset is not dependent on material improvements to operations , material asset sales or other non-routine transactions .", "based on its current outlook of future taxable income during the carryforward period , management believes that the net deferred tax asset will be realized .", "the realization of the company 2019s deferred tax assets will be dependent upon its ability to generate approximately $ 1.0 billion in taxable income from january 1 , 2004 to december 31 , 2023 .", "if the company is unable to generate sufficient taxable income in the future , or carry back losses as described above , it will be required to reduce its net deferred tax asset through a charge to income tax expense , which would result in a corresponding decrease in stockholders 2019 equity .", "depending on the resolution of the verestar bankruptcy proceedings described in note 2 , the company may be entitled to a worthless stock or bad debt deduction for its investment in verestar .", "no income tax benefit has been provided for these potential deductions due to the uncertainty surrounding the bankruptcy proceedings .", "13 .", "stockholders 2019 equity preferred stock as of december 31 , 2003 the company was authorized to issue up to 20.0 million shares of $ .01 par value preferred stock .", "as of december 31 , 2003 and 2002 there were no preferred shares issued or outstanding. ."], "table": [["years ended december 31,", "federal", "state"], ["2004 to 2008", "$ 1451", "$ 483578"], ["2009 to 2013", "12234", "66666"], ["2014 to 2018", "10191", "235589"], ["2019 to 2023", "903010", "728139"], ["total", "$ 926886", "$ 1513972"]], "table_ori": [["Years ended December 31,", "Federal", "State"], ["2004 to 2008", "$1,451", "$483,578"], ["2009 to 2013", "12,234", "66,666"], ["2014 to 2018", "10,191", "235,589"], ["2019 to 2023", "903,010", "728,139"], ["Total", "$926,886", "$1,513,972"]]}

Question: what portion of the state operating loss carryforwards expires between 2004 and 2008?
Evidence:
table_1: years ended december 31 , the 2004 to 2008 of federal is $ 1451 ; the 2004 to 2008 of state is $ 483578 ;
table_5: years ended december 31 , the total of federal is $ 926886 ; the total of state is $ 1513972 ;
Program: divide(483578, 1513972)
Answer:
str_answer: 31.9%
exe_answer: 0.31941