What does this program print?

What does this program print?

rate = 10

def quote():
    try:
        print(rate)
    except UnboundLocalError:
        print("unbound")
    rate = 5
    print(rate)

quote()
print(rate)

1. 10, then 5, then 5
2. unbound, then 5, then 10
3. unbound, then 5, then 5
4. The first read prints 10 without an exception.