Using My Book Studio as External hard-drive for my MacBook Pro

WD External Drives External Drives for Mac
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Just bought My Book Studio and want to set it up as an external hard drive for my MacBook Pro.  I use an Apple Time Capsule for both my back-up and access to the Internet.  I’d like to be able to use the My Book Studio through the Time Capsule so I don’t need to haul the My Book Studio with me when I change rooms.  Any ideas?