Water damage to brand new phone, anything I can do?

I bought a new Verizon Samsung Rogue yesterday, and today my brother knocked it into a gl of water. It was turned on, and submerged for a few seconds, but when he pulled it out it was off. I took the battery out, which was soaked, and blew dry it. Unfortunately I didn't buy the insurance, and I already cut the tag out of the box for my rebate. Can I somehow return it if it doesn't work since I haven't even had it for 24 hours?