Reasonable to boot Nad out? (3,3,3)

I believe the answer is:

not too bad

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'reasonable' is the definition.
I know nothing about this answer so I can't tell whether it can be defined by this definition.

'to boot nad out?' is the wordplay.
'out?' indicates anagramming the letters (I've seen 'out of' mean this).
'to'+'boot'+'nad'='tobootnad'
'tobootnad' anagrammed gives 'NOT TOO BAD'.

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I've seen this clue in The Independent.

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