A company is studying the possibility of changing the credit policy with its clients and is planning to go from a rotation of 5 to 4 times; This would allow it to increase its sales level, which currently stands at 2.4 billion.

The projection that the commercial department has made is that its sales increase by 10%. Given that this situation will require greater investment in working capital and the idea is not to affect the liquidity of the company (that the FCF is maintained and does not vary due to making this decision), it plans to sell part of the new portfolio that will be generated through factoring. . The Factoring company that would be willing to buy that portfolio asks for an 18% discount factor.

If the company's operating margin is 30% and the tax rate is 25%, what should be the percentage of the portfolio that should be sold so as not to affect the FCF?

ASSUME: There are no variations in non-operational ER accounts or other types of assets

out of the wallet.