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Ha, I feel silly for not thinking about belaying from the top. Thanks for reminding me.The folks I was with probably wouldn't have been comfortable with the walk off anyway.
If you do decide to belay from the top, I would suggest tying off a single strand and using it to move down to that last bolt to belay. There is a nice flat spot there at the bolt (nice spot for an anchor). The last 30 feet is merely scrambling and adds nothing to the climb. It also takes a lot of rope stretch out (85 feet versus 115 feet). Considering the hardest moves are down fairly low and it sounds like you have beginners - best to minimize that stretch in case they pop off. I just belayed off the single bolt with a single strand tied off at the top for backup when we did the climb.