Python - Please include #Comments for each line with explanation

Suppose you are purchasing something online on the Internet. At the website, you get a 10% discount if you are a member.

Additionally, you are also getting a discount of 5% on the item because its Father's Day.

Write a function that takes as input the cost of the item that you are purchasing and a Boolean variable indicating whether you are a member (or not), applies the discounts appropriately, and returns the final discounted value of the item.

Note: The cost of the item need not be an integer.