IPhone 5 stuck in DFU mode

A couple of days ago my phone received water damage because it was in my pocket and it was pouring down rain. I noticed that the phone was freezing and doing actions that I never prompted it to so as soon as I made it home I did the rice trick for 2 full days. No luck. I connected my iPhone to my PC and it showed that the phone was in recovery mode (DFU mode) but when I try to restore the phone it gets stuck at "Waiting for iPhone". I've tried EVERYTHING I can find on how to fix this and nothing has worked for me. I tried to restore it using another PC and cord didn't work, I tried to manually update it which didn't work either. I tried doing the steps with the buttons to kick it into regular recovery mode but nothing shows up on the screen. Does anyone know a way to fix this? Before I have to waste more money with apple.

There could still be water in your phone. You'll never know with rice if it is actually dry or not.

for your best chance to save your device…
1. Do not turn it on or try to charge
2. If possible, remove the battery
3. Contact http://www.tekdry.com/ - they have a patented process that will remove all of the water for sure - typically in about 30 minutes, without taking it apart. Best part is that you only pay if they are successful (your shipping cost may be at risk if you're not near their store).

With rice or desiccant, it takes much longer (days) and you don't know if/when your device is dry. Each time you try to power it on to find out if it is dry, you do more damage to your device. Plus while your device sits in rice for days it continues to corrode and you get rice particles inside creating more issues.

Rice (or silica gels/desiccants) does absorb water, but only when in direct contact. Rice outside of your device will not draw water from within it. If the humidity is extremely high it is possible rice will draw some water from the air, however the humidity around your wet device is not going to get that high. So while popular to try, rice does not actually do anything to dry your device. You might think it did if your device turns on but there's likely still water inside that can continue to cause damage.