In corporate finance, an agency problem usually refers to a conflict of interest between a company's management and the company's stockholders. Which situation below is most apt to create an agency conflict? Laying off employees during slack period. Basing management bonuses on the length of employment. Giving all employees a bonus if a certain level of efficiency is maintained. Hiring an independent consultant to study the operating efficiency of the firms. Compensating a manager based on his or her division's net income