[The Funky Llama]

Flop: I think calling is ok but I think I like a checkraise. When doughnutz calls preflop and then the flop you know he has nothing pretty often, something like 9Ts or QJs. So the question is whether a checkraise will allow you to knock UTG off overcards. Since you have decent equity here (even though doughnutz might fold if UTG 3bets the flop) I think the c/r will gain you enough FE to make it +EV. Most tags are raising hands like JTs, QT, etc. utg 5 handed so theres a decent amount of stuff that will fold on the turn, especially if doughnutz is still in there behind him. I'm assuming if he has a big ace he's gonna call you down a lot but thats fine.

Turn: Betting out seems worse than both checkraising and check/calling. The reason is that UTG should know that doughnutz has air and that you usually also have overcards. Therefore, he should be firing his whole range so there is no need to donk. He also shouldn't be raising you with a worse hand like AK because he should know that he is beat very often. 3betting the turn after you are raised would be absolute suicide.

River: I'd pay off here getting 9.75:1. You're not good very often, but 9.75:1 are damn good odds.