Answer
$$1-2x^2y+3x^4y^5$$
Work Step by Step
In order to divide monomials, we look for common terms in the numerator and the denominator that can be canceled out. Doing this, we find:
$$\frac{4x^4y-8x^6y^2+12x^8y^6}{4x^4y} \\ \frac{4yx^4\left(1-2x^2y+3x^4y^5\right)}{4x^4y} \\ 1-2x^2y+3x^4y^5$$
Note, if we wanted to check this answer, we could multiply the answer by the value we canceled out to see if that matched the original numerator.