Chosen Solution

How much would it cost to fix?

It is hard to give you an estimate based on a one-line request. Some shops charge based on a flat-fee solution and others based on work done. Some shops will not try to fix your phone (only data). You will have to research repair shops that specialize in water damage and micro-soldering repairs. You can look at my profile for more info and there are several active members on this forum that do this type of repair as well. You can also go to an Apple store, as Cameron suggests, but because your device is water damaged, they will probably not cover it under warranty or AppleCare.

iPhone 7 Screen Replacement How to fix and the part iPhone 7 LCD and Digitizer Probably cheaper to take it to apple to avoid ANY damage that you can cause. If you have applecare the replacement will be free