total debt total debt at july 1 , 2006 was $ 1762692000 , of which approximately 75% ( 75 % ) was at fixed rates averaging 6.0% ( 6.0 % ) with an average life of 19 years , and the remainder was at floating rates averaging 5.2% ( 5.2 % ) .
certain loan agreements contain typical debt covenants to protect noteholders , including provisions to maintain the company 2019s long-term debt to total capital ratio below a specified level .
sysco was in compliance with all debt covenants at july 1 , 2006 .
the fair value of sysco 2019s total long-term debt is estimated based on the quoted market prices for the same or similar issues or on the current rates offered to the company for debt of the same remaining maturities .
the fair value of total long-term debt approximated $ 1669999000 at july 1 , 2006 and $ 1442721000 at july 2 , 2005 , respectively .
as of july 1 , 2006 and july 2 , 2005 , letters of credit outstanding were $ 60000000 and $ 76817000 , respectively .
9 .
leases although sysco normally purchases assets , it has obligations under capital and operating leases for certain distribution facilities , vehicles and computers .
total rental expense under operating leases was $ 100690000 , $ 92710000 , and $ 86842000 in fiscal 2006 , 2005 and 2004 , respectively .
contingent rentals , subleases and assets and obligations under capital leases are not significant .
aggregate minimum lease payments by fiscal year under existing non-capitalized long-term leases are as follows: .

Amount
2007
$56,499,000
2008
46,899,000
2009
39,904,000
2010
33,329,000
2011
25,666,000
Later years
128,981,000

2007 ************************************************************************* $ 56499000 2008 ************************************************************************* 46899000 2009 ************************************************************************* 39904000 2010 ************************************************************************* 33329000 2011 ************************************************************************* 25666000 later years********************************************************************* 128981000 10 .
employee benefit plans sysco has defined benefit and defined contribution retirement plans for its employees .
also , the company contributes to various multi-employer plans under collective bargaining agreements and provides certain health care benefits to eligible retirees and their dependents .
sysco maintains a qualified retirement plan ( retirement plan ) that pays benefits to employees at retirement , using formulas based on a participant 2019s years of service and compensation .
the defined contribution 401 ( k ) plan provides that under certain circumstances the company may make matching contributions of up to 50% ( 50 % ) of the first 6% ( 6 % ) of a participant 2019s compensation .
sysco 2019s contributions to this plan were $ 21898000 in 2006 , $ 28109000 in 2005 , and $ 27390000 in 2004 .
in addition to receiving benefits upon retirement under the company 2019s defined benefit plan , participants in the management incentive plan ( see 2018 2018management incentive compensation 2019 2019 under 2018 2018stock based compensation plans 2019 2019 ) will receive benefits under a supplemental executive retirement plan ( serp ) .
this plan is a nonqualified , unfunded supplementary retirement plan .
in order to meet its obligations under the serp , sysco maintains life insurance policies on the lives of the participants with carrying values of $ 153659000 at july 1 , 2006 and $ 138931000 at july 2 , 2005 .
these policies are not included as plan assets or in the funded status amounts in the table below .
sysco is the sole owner and beneficiary of such policies .
projected benefit obligations and accumulated benefit obligations for the serp were $ 327450000 and $ 238599000 , respectively , as of july 1 , 2006 and $ 375491000 and $ 264010000 , respectively , as of july 2 , 2005 .
the company made cash contributions to its pension plans of $ 73764000 and $ 220361000 in fiscal years 2006 and 2005 , respectively , including $ 66000000 and $ 214000000 in voluntary contributions to the retirement plan in fiscal 2006 and 2005 , respectively .
in fiscal 2006 , the company 2019s voluntary contribution to the retirement plan represented the maximum tax-deductible amount .
in fiscal 2005 , the company made a voluntary contribution of $ 134000000 in the fourth quarter in addition to the $ 80000000 %%transmsg*** transmitting job : h39408 pcn : 049000000 *** %%pcmsg|47 |00011|yes|no|09/06/2006 17:22|0|1|page is valid , no graphics -- color : n| .

Question: Analyse this data from a financial earnings document. what was the percentage change in total rental expense under operating leases from july 1 , 2006 to july 2 , 2007?
Choices:
0.14124
1.08607
0.08607
7980000
-0.49413
Correct choice index: 2