Yes, you can apply the same analysis to the discount rate as you did to the adjusted cost basis following the split in HPQ stock. We appreciate the additional information you provided.
Your cost basis analysis is consistent with the HPE's letter dated November 11, 2015, in which the company provided an example of how a shareholder may calculate their cost basis in HPQ stock following the distribution of HPE stock.
In a recent TurboTax article discussing qualified and non qualified ESPP sales, the example of a qualified disposition contemplated that the bargain element (i.e., employee discount) was added to cost basis in connection with calculating the total capital gain. Thus, your suggested approach of allocating the discount rate based on the percentages used to determine cost basis in HPQ and HPE stock seems reasonable.
Here is the link to the TurboTax article that discusses Employee Stock Purchase Plans. The example referenced above is entitled Situation 3 and appears near the end of the article.
Employee Stock Purchase Plans
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