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I wouldn't pay that for what was basically a short story, especially from a first-time author. The crapshoot is that if it was well-written, and the author goes on to become famous, that purchase will pay for itself many times over, but what are the odds?
I will not pay more than $9.99 for an ebook - and for me to pay that amount, it should translate size-wise into a 700 page pbook.
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