well... if you hook it up to the charger it will try and boot up, it shows a pineapple and then sometimes a man speaking russian
So, you've got a jailbroken, water soaked iPhone.
You're SOL no matter how you look at it. Apple will not give you the 199 "out of warranty repair" price on a jailbroken iPhone. They will not touch it under any circumstance.
Unless, you can re-install the OS and remove any (easily) detectable traces of the JB. But I'm pretty sure a pineable and talking Russian will be a dead giveaway.