The image confirms this is a moderately simple custom evaluation board: 29 components, USB‑C, dual-UART bridge, regulators/protection, XM125 module, and debug headers.
A reasonable professional engineering estimate is $4,000–$12,000, roughly 40–80 hours covering schematic, PCB layout, reviews, and manufacturing preparation. That excludes prototypes, firmware, testing, enclosure work, and the XM125/module BOM cost. The exact historical cost cannot be recovered from the board files or screenshot alone.