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My warning flags are going up here. What possible hand do you place him on? First of all look at what hands here can beat you...
KJ, K3, K5, 33, 55 (any pocket pair). [KQ or AK also possible but wont beat you.] Ax suited clubs (A5s, A3s, AJs in particular)
Given his call pre-flop, I'd eliminate a major pair like KK or AA unless he was trying to trap, but for now eliminate the big pair.
He lead the betting on the flop so he liked part of this flop anyway or had overs, plus he smooth called your reraise and may not believe you hit that flop either. Eliminate 6-4, 5-3 or 4-2 as that is most likely cards he wouldn't call with preflop - so straight draw is out most likely. He checked the turn, perhaps assuming you would be betting and then he could c/r you but you didn't oblige him - thus showing weakness. If he was on a flush draw, a check by him was probably warranted.
His $20 on the river seems conservative given the size of the pot but then again it's big enough to scare you off if you had less than a flush. He may have figured you on a flush draw anyway and the King hit him just right. Chances are, I'm betting he either hit trips early and FH on river or he has a flush like you. Bluffing here with a big pair showing probably isn't the case. He may have Ace King too and is simply can't let it go.
Either way, I'd be at least calling this hand but not raising as there is a fair chance that you could be beat based on the betting.
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