[Solution by Dr. Abubacker] $\cot10^\circ\cot70^\circ-1=\frac{\cos10^\circ\cos70^\circ-\sin10^\circ\sin70^\circ}{\sin10^\circ\sin70^\circ}=\frac{\cos80^\circ}{\sin10^\circ\sin70^\circ}=\frac1{\sin70^\circ}$. Multiplying by $\sin70^\circ$ gives $1$. Answer (2).