Concept:
A tangent parallel to the x-axis has a slope of zero. Therefore, we must find the derivative of the function, set it to zero to find the critical x-values, and then determine the corresponding y-coordinate.
Step 1: Differentiate the function.
Given $f(x) = 2x^3 - 5x^2 - 4x + 3$:
\[ f'(x) = 6x^2 - 10x - 4 \]
Step 2: Solve for $f'(x) = 0$.
Set the derivative to zero to find where the slope is zero:
\[ 6x^2 - 10x - 4 = 0 \quad \Rightarrow \quad 2(3x^2 - 5x - 2) = 0 \]
Factorizing the quadratic:
\[ 3x^2 - 6x + x - 2 = 0 \quad \Rightarrow \quad 3x(x - 2) + 1(x - 2) = 0 \]
\[ (3x + 1)(x - 2) = 0 \]
The critical values are $x = -1/3$ and $x = 2$.
Step 3: Select the valid x-value and find the y-coordinate.
The interval is given as $\frac{1}{2} \leq x \leq 3$. Only $x = 2$ lies in this range.
Substitute $x = 2$ back into $f(x)$:
\[ f(2) = 2(2)^3 - 5(2)^2 - 4(2) + 3 \]
\[ f(2) = 2(8) - 5(4) - 8 + 3 = 16 - 20 - 8 + 3 = -9 \]
The point is $(2, -9)$.