I think irrespective of his raise we should be putting him pre-flop. If we call, he gets it in regardless - he's not folding.
We can put him on a liberal range of 22+,A2s+,K4s+,Q7s+,J8s+,T8s+,98s,A2o+,K9o+,Q9o+,JTo as a minimum from the CO, in my estimation we have around 37% equity to call and have 38% equity in the pot.
You have a stack of 44bb stack, and in effect only have to call 4x for a ALL-IN anyway. What difference does going to 40bb make? Not much. In regards to table dynamics, it does give some indication to some of the shorter stacks that you would call quite wide against a shove - so may work in your favour.
These types of plays made by the CO I think are typically made by regs against other regs who may be multi-tabling and not making enough detail to stack sizes, hoping you fold to the raise.
I'm jamming marginally with K4o, definitely 22+,A2s+,K2s+,Q5s+,J7s+,75s+,A2o+,K6o+,Q9o+,JTo