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Assuming you pay 10 cents per kw/hour from your power company then it would cost 7 tenths of a cent.
First convert watts to killowats (by dividing by 1000), so 70/1000=0.07kw
Now multiply how many kw (kilowatts) the device uses by the local rate (you need to call your power company or look at a recent bill), we will assume 10 cents for now.
So 0.07kw times 0.10 (kw/hour rate) comes to 0.007 to run this for one hour.
To carry it further, to run this light for a whole day (24 hours):
0.007 times 24 = 0.168 (16.8 cents per day).
If you leave the light on for 8 hours a day for a month:
0.007 times 8 (hours per day) times 30 (days in a month) = 1.68
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