Can't figure out how to play downloaded ringtone..

I downloaded a ringtone from the market. Its on the phone cause I can see the icon and play the music. But I cannot figure out how to install it as a ringtone. I have downloaded several from Zedge and they work fine.

Any ideas how to make this work? I am a real Nubee when it comes to this phone, so specific help is appreciated.

Thanks.
 

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