Does anybody know the cost of a FCC License for a GMRS
1 watt two way radio? And how long the license is good
for.

I can't remember exactly but I think $70-80 for 5 years. It should have a sheet on getting the license in the package you bought the radio in.
Visit My Hunting Page

Here is a good link that has a vast amount of info on GMRS and FRS radios, license requirements, etc:

http://www.provide.net/~prsg/