Yes, I as far as I can tell the expression in the form you have written it will produce a very good approximation to the correct result of evaluating that formula over a very large range of input values.
You have performed a specific simplification of one constant calculation, for reasons I do not understand. If you're going to simplify one calculation, why not simplify all of them?
If this calculation appears inside a loop, you might want to check how good your compiler is at optimising those floating point calculations, especially the constants. If it doesn't, you might want to.
There are some rather specific issues that can arise in using floating point calculations on computers, either when you deal with numbers at extreme values (small and large) or when you perform operations that lose significant digits (like subtraction, in particular). I see none of those here.
Worry not. The computer says yes. This time.