A series discount is a type of discount that is applied in a specific order. In this case, we are given three discounts: 12%, 15%, and 20%. To calculate the net cost, we need to apply the discounts one by one to the list price.
12% discount: 1236.92 x 12/100 = $148.03
15% discount: 1236.92 - 148.03 = 1088.89 x 15/100 = $163.33
20% discount: 1088.89 - 163.33 = $925.56
So, the net cost for the item after applying all the discounts is $925.56