5. What is the primary difference between pledging and hypothecation as means to provide collateral for debt? 6. Suppose you own a house that the county assessor has valued at $350,000. If the city you live in has an assessment ratio of 80% of market value, exempts the first $50,000 of assessed value, and applies a millage rate of 22 mils., how much will you owe in annual property taxes? For full credit, show your work