It sounds like you should upgrade the wire between the alternator and the battery (I am uncertain if you've already done this--if you have you probably shouldn't be seeing that much voltage drop), or check it for a bad connection somewhere.
Another possibility is that someone messed with the alternator wiring. Usually, there is a separate wire which runs from the voltage regulator to the battery (although it may not connect directly to the battery--on my Mustang it is connected to the starter relay, which in turn is connected to the battery).
The purpose of this wire is to allow the voltage regulator to measure the voltage at the battery, so it can compensate for voltage drop in the wire between the alternator and the battery by upping the voltage output from the alternator.
It's possible that someone reconnected this wire directly to the output of the alternator as a half-*** fix for a problem. This would cause the voltage regulator to measure the voltage at the alternator, which will not allow it to compensate for voltage drop.
You should probably get a wiring diagram and check this out.