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A .CO website has the exact same potential to rank well within search engines, assuming it provides valuable content. In fact, a .CO domain offer a SEO-friendly advantages that a legacy domain does not.
My advice:chose the one with a keyword in domain name. Keyword related to product. a keyword having established monthly search volume.
In case you are still not convinced ( I know majority of webmasters here are sceptical about SEO and that is actually great, leaving space for serious guys), this is an old video:
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