Liquid Damage on iPod Touch

My iPod Touch (4th Generation) has recently been dipped into a bucket of water, however, I immediantly blow-dried from the charger, preventing some damage. I can't find a visible Liquid Contact Indicator, so I cannot tell if my iPod is damaged beyond repair. I recently talked to a friend who said that her iPod, which had been dropped and damaged, was replaced with a new one, for free. She also mentioned that one of her friends had an iPhone which had dropped into a pool. He also got a free exchange. This iPod touch has only been with me for 6 months and I can't find the reciept. I had to actually earn this device after a lot of work. Please tell me if a free exchange is possible. I am on the verge of tears!