Shuddering at the thought of paying for that new iPhone 4S? Shudder no more. Apple, via its Reuse and Recycle program, is offering up to $200 for your old iPhone 4, depending on its condition:

Aa74 10CEAArk E 520x369 Apple will now give you up to $200 for your old iPhone 4

Mind you, the iPhone in question here is a white, 16 gig model in perfect condition. If you happen to have a black one, that will net you $180. When you figure that the new iPhone 4S is available starting at $199 on 2-year contract, that’s really impressive.

Did you miss even a moment of our Apple coverage from today’s Let’s Talk iPhone announcement? Click here to catch up on everything we wrote.

A tip of the hat to @NickStarr for the heads up.