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Whatever you do stop trying to turn it on and DO NOT plug it in!
Now, the only thing you can do with the Razr to save it right now is put it in a ziplock bag for 24 hours, full of dry rice.
Do not try and turn it back on. Fill a ziplock with dry rice and put the phone into it, zip it up and squeeze any air out of the bag. Let it sit for 24 hours, no less. Then, try and turn it on.
If this doesnt work, then the water damage was too severe to restore the device.
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