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As you say, you can pretty much put him on a range and do the math in order to check your decision. This a classic pot odds situation, and I will try to do it cause I am not so good at it and need to train 
There is 21+12+85 = 118 in the pot and you have 73 to call, which means u need 73/191= 38% equity to find a call. (anybody stop me if I mix it up with this simple calculation!)
Against any JT your not that bad because of the gut shot and the backdoor flush, roughly 22%.
Against a wide range of J8s+,J9o+, you are 31%.
I tried to build a more realistic range, with a few Q9 draw, MP+ draw and mid PP which gives you 36% of equity
Code:
Board: 7s Jh Td
Dead:
equity win tie pots won pots tied
Hand 0: 36.789% 36.17% 00.62% 43326 744.00 { AhKh }
Hand 1: 63.211% 62.59% 00.62% 74976 744.00 { JJ-77, AJs-ATs, KJs-KTs, Q9s+, J9s+, T9s, AJo-ATo, KJo-KTo, Q9o+, J9o+ }
It is therefore a very marginal call if you had a bit more of air in villain range. You could have made your decision much much more easier by c-betting more than half of the pot against this shorty villain. It is important to take into account short stacks and adapt bet sizing accordingly to help decision making and here your half size pot bet put you just in the middle of a tough one.
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