Consider the following statements regarding computers:

I. Computers can execute a large number of instructions in a fraction of a second.

II$.$ Computer application areas mainly target the research and scientific communities.

III. The physical components of a computer constitute its hardware.

IV$.$ Unlike humans, a computer never gets bored or exhausted when performing repetitive tasks.

Which of the statements are correct?

I, III, and IV only

I and III only

III only

I, II$,$ and III only