You have met Randall McFadden - the Chief Operating Officer (CFO) of Brighton and Hove Fast Fashion (BHFF) public limited company. Randall has revealed to you that his company is getting cheaply made disposable dress from Bangladesh and China in the last three years. A report in the Guardian newspaper reported that companies like BHFF often get cheap disposable clothes without considering the local environment and labour conditions in the factories where such dresses are being made. Therefore, once-thriving rivers in these countries are inundated with cancer-causing chemicals and tiny plastic microfibers, shed by synthetic garments during laundry. It causes serious damage to the water supply and food chain. Randall has also revealed that he had forsaken many positive net-present-value (NPV) projects as he can get clothes cheaply made from abroad. Many of these projects were designed to utilise modern smart fabric technology, allowing them to overmake dresses in a more environmentally friendly manner. As BHFF did not face any capital rationing, these projects could easily be taken. Had Randall taken these projects, BHFF could have become the leader in such technologies in the garments industry. Its clothing business would have been booming by now. Thus, shareholders would have been wealthier.a) In the context of the lost NPV project, briefly discuss the principal-agent problem related to a corporation. How one can overcome this problem? (Your answer should reflect the narrative of the case study). [25 marks]