[crashzzz]

You're getting 3.33:1 pot odds to call 1.20$. Your odds for flopping a set are about 7.5:1.

Therefore you'll be needing implied odds to call. Assuming you called, the pot would be 5.20$. We can assume the SB would make a cbet here, say about ~3$, making the pot 8.20$.

You would therefore be getting 6.8:1 implied odds. Of course, if you did flop a set, you'll probably be able to get more money in the pot on the turn (say another 1$ at least for 7.6:1 implied odds), and who knows maybe the CO might call his cbet and help your implied odds as well here...

So I guess calling here is +EV. If the CO folded though, folding would be better (would have been 2:1 pot odds with implied odds close to 5:1 only).