Iphone4s upgrade to iphone5

how much it will cost the iphone 4s upgrade to iphone 5

Not according to that CNN report I posted, or the TV news reports I saw with this morning's news.
To quote from CNN:
The new in-store program will be operated via a third-party re-seller, Brightstar (the online recycling program is run through PowerOn). Prices may vary between in-store and online trade-ins, although there are fewer limitations with Apple's online option. You get store credit that can be used towards any product, and no contract is necessary. Right now, a top of the line, mint-condition iPhone 5 can net $406 in Apple store credit.
Although reading that article, it is a little confusing about what limitations the instore program, versus the online one has, so you may be right.
added:  it also seems that by accepting the instore offer, you will be renewing your contract committment with your carrier as well, even if you are out of contract at the time?  At least that is what Forbes is reporting?
Does not appear to be a clear consensus of the rules of the program in the various news sources - which is annoying.

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