Pllease help with display problems on new iMac

Hi. Ever since I received my new iMac and started using it, I've felt that it always had a bleached out look on the display. I've felt that the colors were wrong.

This feeling was confirmed when I complained at a message board that I could not read their font because their font was yellow on a white background. All the responders said that the font was yellow on a gray background. Using my computer at work, it is yellow on gray, not yellow on white.

Is there anything I can do when I go to system preferences to correct this? Can you be specific regarding what I should do? To tell you the truth I think my brand new computer is defective.

OK, goto system preferences, click display, then click the color tab at the top.
Make sure that iMac is selected in the left menu and see if this helps.

If not, call APPLE!

Edited, as I posted an answer to the wrong question.

System Preferences > Displays > Color > Calibrate

Thanks for the help, everyone. I think I've discovered the problem. I had the contrast turned up which bleached the colors. Also, I chose the "Adobe RGB 1998" option, instead of the "iMac" option. Will that hurt the computer?

No, it won't.

In fact you can even calibrate the screen to your liking by using Apple's ColorSync. It's very easy, you will be guided through the whole process and instead of using the generic iMac monitor profile, you'll have your very own.

You can find ColorSync here: Macintosh HD ---> Applications ---> Utilities