4.4.5.3. Credible Cost Estimate.Even if subdivision was a demonstrably reasonable certainty, federal law requires credible evidence of projected subdivision costs: “In the absence of credible cost evidence, [one should] exclude[ ] the [development] method valuation altogether.”650 Mere unsupported assertions are insufficient.651 Costs that must be reliably estimated and considered include direct costs of development (such as surveying, design, engineering, permitting, grading, clearing, sewers, street paving, curbs and gutters, water lines, and other utilities); indirect costs (including financing, insurance, real property taxes, sales, advertising, accounting, legal and closing costs, project overhead, and supervision); and the developer’s expected profit.652