Dropped Iphone in toilet

Around 4pm today I dropped my new iphone 4 in the toilet. I got it out before like 5 seconds.
I didn't have any rice or anything & i had to leave so my mother put it to dry in front of a fan ( i powered it off first) I come home around 9pm. She gives me the phone and it was already on (probably due to my 2 year old sister messing with it) and it seemed fine. I put it down and came back and it was dead. It would not turn on. I tried to plug it in the apple came up and then it turned off again. I then put it in rice & left it to dry. Now i just took it out to take off the back cover & it was a little wet. I tried to remove battery but don't have the right screwdriver so i just placed it back in the rice without the back cover.
Is there any hope? I know there was a lot of mistakes by it being on & plugging it in! I really hope i didn't short it out. I've only had it for 2 weeks & my ipod touch just got stolen. I've had terrible luck.
Is there any hope? How much would it be to repair? It's not on a plan. I use it as an ipod touch because mine got stolen.

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