Water Damaged Iphone, How much will it cost to replace?

Can someone answer me what Apple will do when I take my Iphone 5 for a meeting with them on Sunday?
My phone was in my pocket and it was raining and next thing i knew it all went funny. However after laying it in a warm place and in a bag of rice it began to work and now it works perfectly fine apart from my camera app does not work, however the front camera works whilst using facetime. I know this will be caused by water damage.
Can you tell me what i can expect from Apple and how much it would cost to possible replace my phone or to have it fixed?