Thank you both for your quick replies!
I went into the BIOS and did not see a calibration option. I did a google search and it seems that Acer is one of the only laptop manufacturers that does not include this function in their BIOS.
I installed a program called BatteryCare which seems to be a decent free program for providing battery info. It's telling me my battery wear is 73%. Ouch!
I am going to charge and discarge a few times to see if I can manually condition the battery.