For At&t, am I allowed to cancel my current phone contract then sign a new 2yr contract with the same company?

i'm about a year into my old contract and my current phone is completely dead and unusable due to water damage…
so now i want a new phone asap and i don't want to pay the no-commitment price for this new phone i want from att…
so will At&t let me do this: cancel my old contract to then sign a new phone contract with them (so that i can pay the commitment price of the new phone instead of paying the higher price)?

Source:

http://answers.yahoo.com/question/index?qid=20100115203233AAR8tKS

>Open Question: For At&t, am I allowed to cancel my current phone contract then sign a new 2yr contract with the same company?

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