n o t e s t o c o n s o l i d a t e d f i n a n c i a l s t a t e m e n t s ( c o n t i n u e d ) the realization of this investment gain ( $ 5624 net of the award ) .
this award , which will be paid out over a three-year period , is presented as deferred compensation award on the balance sheet .
as of december 31 , 2002 , $ 1504 had been paid against this compensation award .
401 ( k ) plan during august 1997 , the company implemented a 401 ( k ) savings/retirement plan ( the 201c401 ( k ) plan 201d ) to cover eligible employees of the company and any designated affiliate .
the 401 ( k ) plan permits eligible employees of the company to defer up to 15% ( 15 % ) of their annual compensation , subject to cer- tain limitations imposed by the code .
the employees 2019 elec- tive deferrals are immediately vested and non-forfeitable upon contribution to the 401 ( k ) plan .
during 2000 , the company amended its 401 ( k ) plan to include a matching contribution , subject to erisa limitations , equal to 50% ( 50 % ) of the first 4% ( 4 % ) of annual compensation deferred by an employee .
for the years ended december 31 , 2002 , 2001 and 2000 , the company made matching contributions of $ 140 , $ 116 and $ 54 , respectively .
18 .
commitments and contingencies the company and the operating partnership are not presently involved in any material litigation nor , to their knowledge , is any material litigation threatened against them or their properties , other than routine litigation arising in the ordinary course of business .
management believes the costs , if any , incurred by the company and the operating partnership related to this litigation will not materially affect the financial position , operating results or liquidity of the company and the operating partnership .
on october 24 , 2001 , an accident occurred at 215 park avenue south , a property which the company manages , but does not own .
personal injury claims have been filed against the company and others by 11 persons .
the company believes that there is sufficient insurance coverage to cover the cost of such claims , as well as any other personal injury or property claims which may arise .
the company has entered into employment agreements with certain executives .
six executives have employment agreements which expire between november 2003 and december 2007 .
the cash based compensation associated with these employment agreements totals approximately $ 2125 for 2003 .
during march 1998 , the company acquired an operating sub-leasehold position at 420 lexington avenue .
the oper- ating sub-leasehold position requires annual ground lease payments totaling $ 6000 and sub-leasehold position pay- ments totaling $ 1100 ( excluding an operating sub-lease position purchased january 1999 ) .
the ground lease and sub-leasehold positions expire 2008 .
the company may extend the positions through 2029 at market rents .
the property located at 1140 avenue of the americas operates under a net ground lease ( $ 348 annually ) with a term expiration date of 2016 and with an option to renew for an additional 50 years .
the property located at 711 third avenue operates under an operating sub-lease which expires in 2083 .
under the sub- lease , the company is responsible for ground rent payments of $ 1600 annually which increased to $ 3100 in july 2001 and will continue for the next ten years .
the ground rent is reset after year ten based on the estimated fair market value of the property .
in april 1988 , the sl green predecessor entered into a lease agreement for property at 673 first avenue in new york city , which has been capitalized for financial statement purposes .
land was estimated to be approximately 70% ( 70 % ) of the fair market value of the property .
the portion of the lease attributed to land is classified as an operating lease and the remainder as a capital lease .
the initial lease term is 49 years with an option for an additional 26 years .
beginning in lease years 11 and 25 , the lessor is entitled to additional rent as defined by the lease agreement .
the company continues to lease the 673 first avenue prop- erty which has been classified as a capital lease with a cost basis of $ 12208 and cumulative amortization of $ 3579 and $ 3306 at december 31 , 2002 and 2001 , respectively .
the fol- lowing is a schedule of future minimum lease payments under capital leases and noncancellable operating leases with initial terms in excess of one year as of december 31 , 2002 .
non-cancellable operating december 31 , capital leases leases .

December 31,
Capital leases
Non-cancellable Operating leases
2003
$1,290
$11,982
2004
1,290
11,982
2005
1,290
11,982
2006
1,322
11,982
2007
1,416
11,982
Thereafter
56,406
296,277
Total minimum lease payments
63,014
356,187
Less amount representing interest
47,152
—
Present value of net minimum lease payments
$15,862
$356,187

19 .
financial instruments : derivatives and hedging financial accounting standards board 2019s statement no .
133 , 201caccounting for derivative instruments and hedging activities , 201d ( 201csfas 133 201d ) which became effective january 1 , 2001 requires the company to recognize all derivatives on the balance sheet at fair value .
derivatives that are not hedges must be adjusted to fair value through income .
if a derivative is a hedge , depending on the nature of the hedge , f i f t y - t w o s l g r e e n r e a l t y c o r p . .

Question: Analyse this data from a financial earnings document. for the 673 first avenue property which has been classified as a capital lease , what percent of the basis was amortized in the year december 31 , 2002?
Choices:
8.92519
0.00033
0.01761
0.29317
-0.29317
Correct choice index: 3