How much would it cost to fix a water damaged iPhone 4?

I dropped it in the bath and it was in there for about 4 seconds. The warranty is void as the sheets inside have turned pink. I tried to rice for 2 days and it isn't working, it isn't coming on at all. All I can do is buy a new one or pay to get it repaired. Hoe much would it cost to get repaired by Apple? Would I be better off going to a phone repair shop?

Added (1). Please use pounds and not dollars.

It takes days even a couple of weeks
- in a warm dry place
- in a tin Sealed with rice or better cat litter (absorbs more)

if it got wet not just damp, it can take a long time to dry out
So warm/hot airing cuboard and time.
(or sunny day - hot window)

As it is water damage it is an out of warrenty repair
if you take it/book it into an apple shop/genius bar they may exchange it for 140 pounds, you will get a refurbished 'as new' one, no previous owner since it was back to the factory.

else, claim on your house contents insurance for a completely new one (under all risks/ accidents) - probably the same excess (100/150 pounds) but at least you get a 100% new one.

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