We can replace this balance, though you'll have to change over to a different style. Instead of using our Series 850 as normal, you would want our Series 795 instead. Based on your length, I think it'd be okay using our S795-32. You will also need a new pivot bar to work with the new style shoe; see our 26-021. You will also need to determine what option you need, so I recommend weighing your sash on a scale and referring to the chart on our S795-32 store page.
Finally, I note that your old balance installed at the top of the window frame using a plastic hook. Our S795-32 uses a screw tab. With that in mind, you will also need our 26-200 screw plug. This pops right in the hole where the old hook used to go and will allow you to screw the S795-32 in place.
I'm ok with the balance you recommended but I'm not sure about the pivot bar. The screw holes are 1 3/8" apart and don't appear to be where they would be needed. Suggestions?
You should be able to use our 26-366 as a replacement pivot bar.
You'll also need to weigh your sash for the correct spring weight for the S795-32 balance.