The table below provides the total market values of equity for various stock markets around the world, as well as the total market values of bond asset classes $($U$.$S$.$ corporate, and MBS$).$ Based on these figures, and assuming that the CAPM is true, how much should you invest $($as a fraction$)$ in North American equities? You can further assume that all of the equity markets$/$asset classes listed below are investable and accessible to you $($as the investor$).$

The answer should be given in decimal form with three decimals. For example, write $0\mathrm{.}105$ instead of $10\mathrm{.}5$ or $10\mathrm{.}5\%$ when the correct answer is a $10\mathrm{.}5\%$ allocation to North American equities.

Asset class

MV $($$billion$)$

North American equities

$11948$

Developed European equities

$5400$

Developed Asia$-$Pacific equities

$3840$

Emerging market equities

$3090$

U$.$S$.$ Corporate bonds

$8172$

Mortgage$-$Backed securities

$4000$