Table:
| Contractual Obligations | Total | Less than 1 year | 1-3 years | 3-5 years | More than 5 years |
| --- | --- | --- | --- | --- | --- |
| Long-term debt(1) | $1,581.8 | $51.7 | $1,461.0 | $69.1 | $— |
| Operating Lease Obligations (Time Charters) for vessels in operation(2)(4) | 367.4 | 109.6 | 142.7 | 81.6 | 33.5 |
| Operating Lease Obligations (Time Charters) for vessels to be delivered(4) | 63.4 | 5.5 | 13.6 | 12.9 | 31.4 |
| Acquisition of six liquid barges (5) | 12.4 | 0.5 | 4.4 | 5.3 | 2.2 |
| Rent Obligations(3) | 1.3 | 0.8 | 0.4 | 0.1 | — |
| Land lease agreements (3) | 25.8 | 0.6 | 1.1 | 1.1 | 23.0 |
| Total | $2,052.1 | $168.7 | $1,623.2 | $170.1 | $90.1 |
Paragraphs:
F. Contractual Obligations as at December 31, 2019:
Payment due by period ($ in millions) (unaudited)
(1) The amount identified does not include interest costs associated with the outstanding credit facilities, which are based on LIBOR rates, plus the costs of complying with any applicable regulatory requirements and a margin ranging from 2.75% to 3.25% per annum. The amount does not include interest costs for the 2022 Senior Secured Notes, the 2022 Notes, the 2024 Notes, the NSM Loan, the 2022 Logistics Senior Notes, the Term Loan B Facility and the Navios Logistics Notes Payable. The expected interest payments are: $127.8 million (less than 1 year), $166.6 million (1-3 years), $3.8 million (3-5 years) and nil (more than 5 years). Expected interest payments are based on outstanding principal amounts, currently applicable effective interest rates and margins as of December 31, 2019, timing of scheduled payments and the term of the debt obligations.
(2) Approximately 41% of the time charter payments included above is estimated to relate to operational costs for these vessels.
(3) Navios Logistics has several lease agreements with respect to its operating port terminals and various offices. Following the sale of the management division effected on August 30, 2019 Navios Holdings has no office lease obligations (see also Note 16 included elsewhere in this Annual Report). See also Item 4.B. “Business Overview — Facilities.”
(4) Represent total amount of lease payments on an undiscounted basis.
(5) Represents principal payments of the future remaining obligation for the acquisition of six liquid barges, which bear interest at fixed rate. The amounts in the table exclude expected interest payments of $0.3 million (less than 1 year), $1.8 million (1-3 years), $0.9 million (3-5 years) and 0.1 million (more than 5 years). Expected interest payments are based on the terms of the shipbuilding contract for the construction of these barges.
Question:
What percentage of total contractual obligations were due less than a year?
Answer: (168.7/2052.1) = 8.22