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JTs preflop decision - coldcall/cold4bet/fold

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JTs preflop decision - coldcall/cold4bet/fold

Blinds: $0.25/$0.50 (6 Players) MP: $42.70
CO: $44.50
BN: $61.02
SB: $68.16 (Hero)
BB: $55.18
UTG: $55.76
CO is the table target. Very loose preflop and will call any 3bet. 80% donk flop. BTN seems like a reg. No 3bets so far in 70 hand sample, so I give him credit for a tight range until proven otherwise.
Preflop ($0.75) Hero is SB with T J
2 folds, CO raises to $1.00, BN raises to $3.00

122bb deep against BTN.

What is your reasoning to fold, coldcall or cold 4bet?
CO's donk flop % doesn't make me feel so bad about being first to act post flop.

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