Iphone4 fell in water 4 days ago?

Last night my phone was in my back pocket and fell into the toilet after in took it out and friend it with paper towel it worked normally but had to charge (even before it was dropped) so when i beat all the water out of it i placed the phone to charge and it did but it went from 8% to 7% to 3% even with the charger in it then it cut off. I was able to turn it back on but the phone would start to get really hot, then i just gave up and placed the phone near some heat. This morning i tried to charge it again but instead of coming back on like last night it would show apple logo then cut off then show the apple logo then cut off again. I placed it in rice overnight it would only show the apple logo when plugged in, i tried to restore it using iTunes but the phone couldn't be found now while its plugged in the phone shows the iTunes logo and the charger image.
now when i plug it into the wall or computer it shows the apple logo then the screen that tells you to plug int iTunes
when in the computer iTunes says that they have found a phone in recovery mode but when i try to reset it this pops up "iPhone can't be reset due to unknown error (2001)
when not plugged into something the phone shows no life but when its plugged in it show signs of life but doesn't entirely work
how to fix this
and i know i shouldn't have left the phone on and charged it I've learn that so please no answers stating that

Added (1). this is not a contract phone this is a gsm iPhone

If your contract is up, then I would upgrade to a newer version by trading it in. They now take trade-ins and you can get a new contract, so it may be just like getting a cheaper upgrade.

Thats better then putting money into fixing an older version. They take trade ins even if its damaged, obviously you won't get as much for it but at least its something in return.

It's broken inside. It can't restore due to damage. You should of immediately turned it off or leave it off and not tried to charge it. Then left it alone for 3 days before trying to charge again giving the water proper time to evaporate.

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