Answer:
Assuming that we are using a bubble sort algorithm to sort the list in ascending order and that the outer loop iterates over all the elements in the list, the list after three iterations of the outer loop would be:
{40, 57, 59, 82, 87, 98, 99}
In the first iteration of the outer loop, the largest element (98) is moved to its correct position at the end of the list. In the second iteration, the second largest element (87) is moved to its correct position before the largest element. In the third iteration, the third largest element (82) is moved to its correct position before the second largest element.
After three iterations of the outer loop, the list is sorted in ascending order, and no more iterations are needed.