Probably not the best idea to open that up unless you consider yourself a skilled electrician.
Best thing to do is to contact revlon first. You never know what will happen. They may take pity on you and allow an exchange.
Another option: Most towns of any size have a fix-it shop. If your town does, then it is time to pay them a visit. If the repair is simple enough it may be very inexpensive.
If this is fixed improperly it is a risk to your health and safety. Without a thermal cutoff for example, the iron might approach red-hot before you know it. Melted plastic and an electrical fire is nothing you want in your house or near your head. :-(
Just as a general note: Usually the cords fail on these things. This is because people wrap the cords up every time rather than hanging the things up in the closet or vanity. The wires flex only so many times before breaking. Hair dryers, curlers and straighteners are the things I find dead from this most often.
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