Looks like someone stred that one in a bucket of water. Have you tested it to see if it still works? I wouldn't chuck it if it works. It's been my experience that new electric anything isn't going to be built as well as the older stuff. Clean up the inside as best you can without taking it more apart and replace the power cord. Looks like there's just enough room in the case where the power cord exits for an "Underwriter's knot". Look that up and tie one in the new power cord before you put things back together. The knot will keep the cord from pulling out. Screw the new wires on clockwise like the old ones. It helps the wires stay under the screws better. Keep the white wire and black wire on the same side as the old ones. It may not matter but why take chances?
I hope this helps,
Rodney