Wrangler AuthenticsMen's Authentics Short Sleeve Canvas Shirt

What size is the chest? In some cases I order M and it is tight

How far down is the second button, is it too far making the collar really loose when you leave the top unbuttoned?

One Size L when you measure exactly on the Waist?

I recieved this item as a gift and did not recieve a gift receipt. Is there any way to return it. It is too large