Are there any solutions for a digital camera w/ water damage?

I had an olympus (FE-100). One day while trying to juggle with an armload of misc. I regretably decided to go ahead and drop my camera, along with a few others, into the KFC bag I was bringing my b/f on break. As luck would have it, green bean juice spilled out from those quality carry-out containers and invaded my camera. I turned it on to see if it still worked after I had cleaned up the juice and it did, for a second, and then went dark. The lense is stuck out and I havn't been able to get it working since. It's not exactly a high end model camera so I think I would feel silly taking it to a specialized camera shop where the repair price would exceed the value.
Maybe it wouldn't?
Maybe there is an alternative to try?
Maybe this has happened to you...?

This has not happened to me I would never eat KFC for breakfast.

Its shot its last shot.

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The only true fix would be to buy a new camera especially since you say that your camera is not very high end.

Well you can use that one for a paperweight now. Time to go camera shopping.