I hope you don’t mind my stepping in to answer this question. The print image is unusual, showing two links on the first line. In fact, I have never seen this in all my years of transcribing math. What we notice most is the aligned equals signs in the solution to this problem.
Note that NC 26.5.3.b does not say that EVERY link begins on a new line in print. It says that EACH NEW LINE BEGINS WITH A LINK. This holds true to your print sample which should indeed follow Nemeth “nested list” format. Each link will begin on a new line in braille, even that second one.
Regarding your observation about the code vs. the lesson manual, I see that the second bullet in 8.22 (Lesson 8) is obsolete. It appears that criterion is a holdover from the 1972 code (Section 189.b.iii). Please mark your manual and follow the new code.
Lindy Walton