Right now I'm trying to buy the Iphone 4s 16 GB White?

And I just got to the end of the process from at&t, It says
Due Today* $105.99 This is the amount you'll need to pay in full today which can include the cost for a phone, a device, or an accessory, plus the estimated sales taxes for these items. Shipping & Handling, if applicable, will also be included in this amount.

Due Monthly* $112.97 This is a monthly recurring charge that will appear on the monthly billing statements and may not include all existing service charges. Other surcharges, taxes and fees are excluded from this amount.
Added to 1st Bill $36.00 This amount reflects any one-time charges which will be added to your first bill like activation or upgrade fees.

so once I pay for the 1st bill will my bill drop back down to 76.92 or they haven't added the activation fee yet

Please read the contract with a lawyer and see the benefits and losses or calculate yourself! I myself would do the same and if it, s o.k. I would buy it! Self decision!

Yes, you are trying to buy it.