How to use this kinds of transparent image for alpha channel?

[Muji37037230lzym]

So I got a ripped pantyhose resource, and I want to use it to rip the pantyhose of a 3D legs model.
Resource in attachment, It's a transparent image

Pantyhose transparent or not is controlled by the alpha channel, black is transparent, white is opacity.
So I just put this ripped pantyhose resource on the transparent map.

And here's the result of Maya rendering, of course it's not correct.

So I go back to PhotoShop and invert the ripped pantyhose resource (because it's a transparent image, so I add a white background to it).

And the render result is still not correct.

I think I need to remove the red region and keep the green region, but I don't know how to do this.

I know the magic wand tool can select the red region and delete it, but the problem is that this method is not accurate enough.

It still looks strange.

So any ideas on how to solve this?

[Myra Ferguson]

Here's how you can make the selection in side of the torn areas:

1. Select the Magic Wand tool with Anti-alias selected and Contiguous deselected in the Options bar (Window > Options).
   
2. Enter Quick Mask mode (Select > Edit in Quick Mask Mode or press Q).
   
   
   
3. Select the Brush tool and set the Foreground color to black.
   
   
4. Paint on the Quick Mask to remove the outer portion that you don't want selected.
   
   
   
5. Exit Quick Mask mode by either pressing Q again or going back to Select > Edit in Quick Mask Mode.
   
   
6. Select one of the Selection tools such as the Object Select tool to have Select and Mask... button appear in the Option bar, and click on it.
   
   
7. On the right side, adjust the feather, contrast, and Shift Edge sliders to smooth out the selection and make it fit better and output it to a layer mask.
   
   
   
8. Drag the layer mask to the skin color layer (assuming that it is separate from the hose layer).
   
   
   
9. Add a Solid color adjustment layer (go to the adjustment layer icon, the middle icon at the bottom of the Layers panel, and select Solid Color... or go to Layer > New Fill Layer > Solid Color...) above the image of the run/hole and set the color to the darker skin tone of the pantyhose.
   
   
10. Right-click on the solid color adjustment layer and select Create Clipping Mask or go to Layer > Create Clipping Mask.