Greetings Nicole:
I would probably give the tree a chance since the cambium tissue is still green (alive). The tree you planted may be a variety/cultivar from a different climate (i.e., it is not acclimated to you growing conditions). If your tree has broken dormancy and it still has "green" inner bark, then it still has a good chance of making it -- just give it a little more time :-)
Best of luck!