Stupid Misfortune Always Gets Us Klutz

In staccato: I dropped my iPhone 4 in water recently, which I had for more than 2 years. It has no contract or anything. Just a phone I got as a gift. The backlight flickered for a short 5 minutes after drying it out for 5 days when I later turned it on and then completely went dark. I believe I know what is wrong with my phone, however, my question is this: Does my phone really not have a chance at being fixed? And if so how much will it cost to fix it or at least try to? I have one more question. Can I save a "copy" of my iPhone and reupload it to, let's say, an iPhone 6? And with all of my data intact? I don't want to lose my music projects that I use on a third party app called Beatwave.