Answer
$(2y-1)(4y^2+2y+1)$
Work Step by Step
The given binomial can be written as:
$(2y)^3-1^3$
The binomial above is a difference of two cubes.
RECALL:
A difference of two cubes can be factored using the formula:
$a^3-b^3=(a-b)(a^2+ab+b^2)$
Use the formula above to factor the sum of two cubes with $a=2y$ and $b=1$ to obtain:
$=(2y-1)[(2y)^2+2y(1) + 1^2]
\\=(2y-1)(4y^2+2y+1)$