Using an Insertion Sort, if the numbers to be sorted are $\{2,7,6,3,5,4\},$ after three iterations of the main loop of the algorithm the list would be

$\{2,7,6,3,5,4\}$

$\{2,6,7,3,5,4\}$

$\{2,3,6,7,5,4\}$

$\{2,3,5,6,7,4\}$