Can you watch video on your PC while recording at the same time?

Hi! I have a Canon Vixia HF S10 and have been asked to record a company event. It would be nice, for a variety of reasons, to be able to set up my laptop so that I can see the video as it is being shot AND hook up headphones to listen as well. Can this be done? How? Will it cost me?

Thanks!
-M