We are given the parabola equation:
\[
y^2 - 4ax + 4a^3 = 0
\]
and the straight line equation:
\[
y = mx + c
\]
Since the straight line touches the parabola, the two curves intersect at exactly one point. For this to happen, the discriminant of the quadratic equation formed by substituting \( y = mx + c \) into the parabola equation must be zero.
Substitute \( y = mx + c \) into the parabola equation:
\[
(mx + c)^2 - 4ax + 4a^3 = 0
\]
Expanding the equation:
\[
m^2x^2 + 2mcx + c^2 - 4ax + 4a^3 = 0
\]
Now, this is a quadratic equation in terms of \( x \):
\[
m^2x^2 + (2mc - 4a)x + (c^2 + 4a^3) = 0
\]
For this quadratic to have exactly one solution (since the line touches the parabola), the discriminant must be zero:
\[
\Delta = (2mc - 4a)^2 - 4m^2(c^2 + 4a^3) = 0
\]
Expanding the discriminant:
\[
(2mc - 4a)^2 = 4m^2c^2 - 16mac + 16a^2
\]
\[
4m^2(c^2 + 4a^3) = 4m^2c^2 + 16m^2a^3
\]
Set the discriminant equal to zero:
\[
4m^2c^2 - 16mac + 16a^2 - 4m^2c^2 - 16m^2a^3 = 0
\]
Simplify:
\[
-16mac + 16a^2 - 16m^2a^3 = 0
\]
Factor out the common terms:
\[
-16a \left( mc - a + m^2a^2 \right) = 0
\]
Thus, we have:
\[
mc - a + m^2a^2 = 0
\]
Solve for \( c \):
\[
c = a - m^2a^2
\]
Therefore, the value of \( c \) is:
\[
c = \frac{a}{m} - \frac{a^2}{m}
\]
Thus, the correct answer is Option D.