That's because, to redirect that file to file descriptor 3 for reading, you need read permission on the file. In my system, for example, /bin/ping cannot be read as a normal user (permissions 4711) and I get that same error.
You'll have to find another binary that has the SUID bit set and is readable. For example, in my system /bin/mount does the job. Still, in the last step I get the same error as reported by several other users (Inconsistency detected...)