Reinstall Xp Home sp2

I have a Dell Dimension 3000 that I would like to reformat but I do no have reinstall CD/DVD and computer does not let me create the CD(s),etc…

I do have a retail version of XP Home upgrade from years ago when I upgraded a very old PC from WIN98.

Can I use this CD after using Acronis True Image on my existing HDD or do I need to buy a new HDD and then slave and copy files,etc..

Thank you in advance for assistance!