Iron won't heat up.

Question

My Black and Decker Classic Metal iron is about two and half years old. The cord has become badly twisted due to wear, so the connection isn't being made, and the iron won't heat up. Otherwise the iron is in fine shape, and since it was fairly expensive, I'd like to repair it. I think all it needs is a new cord. Is this a possibility, and will it be very expensive to replace?Thanks!