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Timing Belt or what the heck? 700 1987

Full up on turkey, when backing out of my friend's driveway last night (car started up no problem) at a coasting "speed" and then upon switching gear from Reverse to Drive, my 1987 Volvo 740 GLE cut dead and then wouldn't restart. All electrical's working fine (not an alternator problem) and the motor seems to want to start up (I'm guessing it's not a fuel pump problem) but nuttin' -- won't start and had to physically push it, in neutral, to the side of the road. Here's the oddest thing -- when my friend popped open the hood, she said she saw a belt, intact, sitting atop of the engine, just sitting there as if someone had placed it neatly on top) and it seems to look like an overhead cam belt -- but I know only what I read/see on the internet (it's got teeth and then smooth area on the inside; all smooth on the outside). Any suggestions on whether this sounds like a timing belt problem, how the heck it may have made its way to sitting atop the engine, and whether I may have damaged my engine or pistons with this model car at that "speed" (I have tried to restart the car at least 8-10 times -- worried that may have compounded the problem). Also, is this the sort of thing that a friend who's saavy in mechanical projects may be able to help me install? How horribly expensive could this be if there's no collateral damage? Any advice would be most appreciated!!






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