10. Which of the following is NOT true regarding the marginal income tax rate? (A) The tax savings will increase as the marginal income tax rate increases (B) State and local income taxes have the effect of increasing the tax savings (shield) (C) All levels, i.e. Federal, state and city), of income taxation must be included to determine the true marginal income tax (D) Rent paid multiplied by the marginal income tax rate will help determine the "after tax cost" of rent paid (E) Tax savings reduce the cost of home ownership