rebate

/ri'beit/
Noun
  1. a rectangular groove made to hold two pieces together
  2. a refund of some fraction of the amount paid
Verb
  1. join with a rebate
    • rebate the pieces of timber and stone
  2. cut a rebate in (timber or stone)
  3. give a reduction in the price during a sale
    • The store is rebating refrigerators this week

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rebate
The store is offering a rebate on the new refrigerator.