Will my iPhone be replaced with the latest model?

The sound on my iPhone is broken and it can't be repaired. The man at the genius store said to replace my phone would be 200$ but will it be replaced with the latest model of iPhone or with the model I have? (I have a 4s) I didn't think to ask and don't really want to drive down to the apple store just for one question.

Added (1). my warranty is up and we canceled Apple Care or whatever it's called.

It will be replaced with the one you have. The insurance and warranty only covers the model that you have.